The average house price in Greater Manchester set to reach record heights by 2030.
Research by housing search engine eMoov has found that by 2030 first time buyers will find it even more difficult to get their foot on the housing ladder, with the average home in Greater Manchester on course to reach £316,920.
Looking at the increase in UK property values between 2000 and 2015 the company found property prices had increased by 84 pc. They then applied this same level of increase to each area of the UK.
And such an increase will see a drastic change in the property market across the UK, with the only areas of England offering an average house price under £280,000 in just 15 years’ time being Merseyside at £275,074, East Riding of Yorkshire at £277,411 and Durham, where the average home could set you back £279,985.
Founder and CEO of eMoov.co.uk, Russell Quirk, said: “The past 15 years have seen extreme growth in the price commanded for UK property, as well as a crash as a direct result of this inflated growth.
“Although this research is only a projection of what may happen by 2030, it is safe to assume that with prices continuing to spiral beyond affordability, history could well repeat itself.
“It is extremely worrying to look at the difficulty many have in getting on the ladder at the moment, let alone with a price jump of 84% by 2030.”