Would-be homeowners in parts of Greater Manchester may need to borrow nearly 17 TIMES the average income to be able to afford a house. With homes across the country now almost twice as unaffordable as they were at the turn of the century, exclusive analysis has revealed just how out of reach homeownership can be in some areas.
Hale Barns in Trafford has been named as the most expensive area to live in our region, while an area of Leigh in Wigan has shown to be the most affordable neighbourhood. Figures from the Office for National Statistics (ONS) show that in the year to September 2021, the average house in England and Wales cost around 8.9 times the average income - up from 5.1 times in the year to September 2002.
Within Greater Manchester, that ratio ranged from 9.3 times average incomes in Trafford (up from 5.2 times), to 5.1 times average incomes in Wigan (up from 3.0 times). These figures look at the income of every household member, plus any income from benefits, before things like tax, national insurance and pension payments are taken into account.
