Consider the basic needs of a newborn baby...... warmth, shelter, food and to be kept clean.
So as long as you have what you need to give them milk, newborn clothes including a hat and mittens if not built in, a blanket, nappies, wipes, muslin cloths..... and a car seat if you need it to leave the hospital.
Once home they need somewhere to sleep and a swaddle or sleepsuit. A separate changing station/area upstairs and downstairs is not essential but will make your life so much easier.
And that's about it for the essentials to be honest. You'll probably find that there's more you need than baby does in those early stages.
Literally every single other thing you can get once they are here while you figure out exactly what your babies wants and needs are. Even prams, slings, bouncy chairs, baby baths etc you can get once baby is already here if you want to, and highchairs, stairgates come later.