IT is the news that first-time home buyers will dread.

House prices in Southampton are set to surge by 43 per cent within the next five years, according to experts.

Leading economic forecasters Oxford Economics, in collaboration with Rightmove, released the data after surveying valuations and assessing prices as well as using reliable analytics.

Southampton is ahead of other cities across the south of England, with London set to increase by 33 per cent and Brighton and Luton by 41 per cent.

Miles Shipside, Rightmove director and housing market analyst, said: “Understanding the path of future house price growth is a key element of UK economic strategy and decision making.

“Our data driven forecasts contain insight not previously available from other commentators or the Government’s own forecasts produced by the Office for Budget Responsibility.”