Greater Manchester named as one of Britain's 'most affordable' areas for first-time buyers
manchestereveningnews.co.ukGreater 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 (July 22) has revealed the the stark reality of securing your first home in today's current climate.
With high house prices and soaring rent costs across the country, it's becoming increasingly difficult for young people to take their first steps onto the property ladder.
The Index, created in partnership with Oxford Economics, pulls together data from sources such as the Office for National Statistics and the Bank of England to provide fresh insight on the affordability challenges faced by renters, first-time buyers and homeowners by age, income, geography and family-type.
Through analysing the affordability of buying a property in Great Britain and the cost of running it too, Greater Manchester has been highlighted as one of the more cost-effective places for those wanting to buy their first home. READ MORE: Couple in 20s build their own tiny cabin home to live rent-free and 'survive' during housing crisis According to Skipton, Greater Manchester was ranked 7th out of 40 regions in Great Britain for first-time buyer affordability.
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