House prices in the North West have skyrocketed over the past two decades, new data has shown.
Estate agent Coulters Property reported the findings after conducting research on the changing landscape for first-time buyers.
Coulters also found that whilst property costs have risen sharply; earnings have lagged behind.
In 1999, the average house price in the North West was just over £50,000. Twenty years later, the typical cost for a house in the region was around £164,000.
During the same time period, average salaries rose from £16,000 to just £28,000.
Mike Fitzgerald, Coulters Executive Chairman, said the stats reflected modern disparity between personal income and property prices.
“Although being a first-time buyer is exciting, over recent years, the affordability gap has stretched and continued to do so every year, making it difficult to make the first step onto the property ladder,” he commented.
“In these uncertain times, these inequalities have been made much more apparent.
“There’s no questioning that wages have increased with the rate of inflation, but have they increased enough? Despite recent schemes such as Help to Buy or part-ownership, house prices are expected to increase, with the possibility of a 15% increase over the next five years or so.”
However, despite the deflating data, Mr. Fitzgerald emphasised that support was available for first-time buyers in Britain.
“It’s important to seek all the information you can when considering getting a foot on the property ladder and not let the numbers put you off,” he explained.
“There is so much support and often a price bracket to meet first-time buyers’ needs.”
Mr. Fitzgerald continued: “Capital returns on property are traditionally strong, but like all investments the returns need to be measured over a sufficiently long period of time to flatten out short term spikes and dips in values.
“If done sensibly the outcome and rewards are certainly worth it, not only in financial terms but also in the pleasure that home ownership can bring.”
OnlyFans star promises to buy houses to help low-income families with affordable rent
An OnlyFans model has said that she plans to buy up a number of homes so that she can rent them out to low-income families for a fair price.
Rebecca Goodwin, 28, says she’s launching the scheme both to help those in need and to provide an inheritance for her two daughters.
The star, who makes around £100k per month from her provocative OnlyFans content, shared the vision of her ‘affordable housing scheme’ on Twitter this week.
She said that she makes enough money from the subscription-based social media platform, but now wants to create a ‘side hustle’ that her children can inherit.
Rebecca’s plan, according to her tweet, is to buy eight homes out-right and then rent them out to families on low incomes.
The example she provided was for a three-storey, four-bedroom, three-bathroom house with off road parking for two cars, fully furnished, for £650 a month.
Originally from Mansfield in Derbyshire, Rebecca said she was previously relying on food stamps to feed her family and struggling to pay her gas and electricity bills.
But since launching her career on OnlyFans in 2019, her life has completely turned around.
In the replies on her original Tweet about her affordable housing scheme, she added some more information – including clarifying her incentives.
She said: “I make enough profit on onlyfans, I have no mortgages so rent payments are 100% profit except maintenance and insurance, this is a side hustle that my kids can inherit. I’m not doing it to make me more money I’m doing it invest in my kids futures.”
Rebecca also wrote: “It is profitable, I’m renting out houses that are already paid off, and the millions spent on the houses is still ours. I’m making £100k+ a month on onlyfans, and when it dies down/ I decide to retire, I retire with the income generated from the 8 properties.”
The houses she plans to buy will all be renovated and furnished, she wrote.
Rebecca has received a lot of praise from members of the public for her efforts.
One person said: “Now, if you, one person (who is spending their own hard earned cash to create affordable housing) can do it – why can’t the government? With the billions in taxpayer revenue? I applaud what you’re doing, you’re a kind soul, but I could cry for the state of the country rn.”
Someone else said: “This is something incredible and life changing for some families who have never had a place to call home or in a constant money struggle to keep a roof over their heads. As someone who is a year out of predicted 3 in temp housing and struggling to even rent my first prop.”
Another commented: “What a wonderful thing to do. You’re an actual diamond. I hope to be able to something like this when I’m making the same kind of money. You are such a blessing.”
Featured image: Instagram, @beckymil1_
The most expensive home on the market in Greater Manchester has just been reduced in price
The most expensive house on the market in Greater Manchester looks like it’s come straight out of LA – and it’s just dropped in price.
The stunning contemporary mansion looks like something you’d see being paraded around on Netflix’s hit series Selling Sunset, but it’s actually based right here in the drizzly north west.
The massive house – which has TWO pools – had previously been listed for a cool £8m.
But the agents have just reduced the price of listing, and it’s now being marketed at £7.5m.
For that price, you get a remarkable, modern house with floor-to-ceiling glass windows that look out over its massive patio and outdoor pool.
With a second pool inside, as well as a gym, cinema, a bar and games room, and five bedrooms, there’s a lot to unpack here.
The Hale property sits in around 10 acres of grounds beside the river, less than a mile from the centre of the affluent village, and was built by the current owner.
Named Riverside, the home was designed by Tsiantar Architects and features double-height spaces and luxury fixtures and facilities.
It’s not just the one house either – there’s also a two-bedroom guest cottage in the grounds.
The outside space is properly impressive, with an entertainment area, a pool, and sweeping lawns, plus views across the valley.
Jackson-Stops, who are marketing the mansion, say: “Upon first entering Riverside there is an immediate feeling of space as you walk into the breathtaking double height dining hall, which provides access to the remaining accommodation including a large drawing room, cinema room and study, but without doubt the heart of the home is the superb living dining kitchen with its bespoke range of units by Diane Berry Kitchens of Prestwich.
“The principal bedroom suite includes an amazing space with a large balcony overlooking the grounds towards the Bollin Valley. There is also a luxuriously appointed bathroom and dressing room. The remaining four bedrooms all boast en suite facilities and delightful views across the surrounding grounds.
“The lower ground floor area is given over to leisure and relaxation with a large entertainment room complex with a well equipped bar, sitting and relaxation zone, a gymnasium and separate leisure area with a large Jacuzzi and resistance turbine, along with a with changing area.”
The whole property is situated along a private road, with electric gates and a triple garage.