A new report says the buying affordability in the region 'remains well above the national average'
Greater Manchester has been identified as one of the most affordable areas for first-time buyers in Great Britain. A new affordability index released by The Skipton Group today has revealed the the stark reality of securing your first home in today's current climate.
READ MORE: Couple in 20s build their own tiny cabin home to live rent-free and 'survive' during housing crisis Despite improving during the pandemic, overall housing affordability in Great Britain has fallen over the course of the cost-of-living crisis and sits almost exactly where it was at the beginning of 2020, with limited signs of improvement on the horizon.
“Whilst affordability for first-time buyers in Greater Manchester is better than in most of the rest of Great Britain, 80 percent still can’t afford to take their first step onto the property ladder, so our findings paint a bleak picture. The combination of high housing costs, insufficient savings, and significant regional disparities underscores the urgent need for collaborative and targeted interventions to support aspiring homeowners.
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