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Manchester Evening News
Manchester Evening News
National
Annie Gouk

How much are people earning on your street and how much are the houses worth? Find out with this widget

There's been a surge in house prices seen across Greater Manchester in the last year - but the good news is that our region remains relatively affordable compared to average earnings.

The average house price for a first time buyer came to £146,927 across Merseyside this April - 5.5 times more than the average annual earnings of £27,110 for a full time worker.

In comparison, the average house price for first time buyers across Greater Manchester worked out as 6.5 times more than the average annual salary.

That figure ranged from 7.1 times in Trafford to 4.4 times in Wigan.

Since lenders typically offer loans of 4.5 times income at most, this means parts of Manchester are increasingly out-of-reach to average earners.

You can find out how affordable your area is using our interactive widget below. It tells you what the average net household income is, and what the average house price is, once you enter a postcode.

We've crunched the data at a time when Greater Manchester is seeing higher than average increases to house prices for people buying a home for the first time.

Prices for first time buyers in Bury, for example, are going up faster than almost anywhere else in the country.

Prices are rising across Greater Manchester (PA)

Analysis of figures from the Land Registry has revealed exactly how much you’ll have to shell out to get on the property ladder in every area of Great Britain.

And in Bury, the average price for first time buyers reached £149,054 in April this year - up by 8% from £138,041 in April 2018.

It’s an increase of more than £11,000 in a single year, and means people buying for the first time in the area will now need to have a deposit of nearly £15,000 (assuming a 10 per cent deposit), and pay around £700 a month on a 25-year mortgage.

Bury Road, Tottington, Bury (Manchester Evening News.)


The rise in Bury is one of the biggest seen anywhere in Britain, and means house prices are rising eight times faster for first time buyers in the area than they are across the country as a whole.

Nationally, the average price for first time buyers came to £192,559 this April, just 1% higher than £190,704 in April last year.


The rest of Greater Manchester also saw higher than average increases to house prices for people buying a home for the first time

Across our region as a whole, the average cost was up 4% from £141,439 to £146,927, with the increase ranging from 5% in Oldham - from £112,590 to £118,617 -  to 2% in Salford, up from £142,634 to £145,618.

With housing affordability varying from neighbourhood to neighbourhood, enter your postcode here to see how wages and house prices stack up in your area.

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