Getting onto the property ladder can be a rather daunting process.
First-time buyers today face an even bigger challenge with house prices in the UK constantly increasing and the cost of living soaring.
Therefore, before you begin house-hunting it is important to know what sort of salary is required to secure a mortgage, and the average deposit needed to buy a home in your area.
First-time buyers accounted for 51 per cent of all properties bought with a mortgage last year, up from just 38 per cent in 2020, according to analysis from Zoopla.
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Zoopla has calculated the cost of the average price of a home for a first-time buyer in each area of Greater Manchester.
Using this data, we compare the income needed to be accepted buy a home across every borough of the region, as well as the average deposit of 15% and the most common property type for first-time buyers.
Zoopla have also worked out the salary you would likely need to get the mortgage.
Bolton
First-time buyers looking to settle down in Bolton can expect an average house price of £135,000.
The most common property type for new home owners in this borough is a three-bed terrace.
To get on the property ladder, you will need an salary of around £23,600, and a 15% deposit equating to £20,250.
Bury
In Bury, first time buyers need a much bigger income of £29,900 a year to buy their first home.
The average house price for first time buyer homes here is £165,000, with the most popular property type being a three-bed semi detached home.
A deposit needed for this sort of home would be around £24,750, based on 15% of the house price.
Manchester
Manchester has an average house price of around £185,000 for first-time buyers.
A higher salary of £34,150 would be needed to buy your first home, which is most commonly a three-bed semi detached home in this area.
To secure a home at this price you would need a 15% deposit of around £27,750.
Oldham
New house-hunters looking for a home in Oldham will need a salary of around £26,800.
Along with a 15% deposit of £22,500, you'd be able to secure a home with an average house price of £150,000.
The most popular time of property for first-time buyers in Oldham is a two-bed terraced house.
Rochdale
In Rochdale, the average house price for a first-time buyer is around £150,000.
For the most common home bought in the borough, which a three-bed semi-detached, you'd need to earn around £26,800 per year.
You would also need a 15% deposit of around £22,500.
Salford
Those looking to buy their first home in Salford would need a salary of around £32,100.
The average house price for a first time buyer in this area is £175,000, with the most popular property type a three-bed semi-detached home.
A 15% deposit you'd need to secure your home would be around £26,250.
Stockport
Stockport requires you to have a higher salary to live there, with first-time buyers needing to earn around £35,300 a year.
The average house price for first-time buyers in Stockport is £190,000, which would require a 15% deposit of £28,500.
The most common property type for new homeowners in this borough is a three-bed semi detached.
Tameside
In Tameside, the average house price for first-time buyers is £165,000.
This means that you would need a salary of around £29,900 per year for the most common home which is a three-bed semi detached.
You would typically need to save up for a 15% deposit of £24,750 to buy a home in this borough.
Trafford
To live in Trafford, first-time buyers would need the highest income of all the boroughs, earning around £41,650 per year.
The average house price in Trafford is £220,000, which is typically the cost of a three-bed semi detached home in the area.
You would need a 15% deposit of £33,000 to buy a home here.
Wigan
First-time buyer homes in Wigan have the cheapest average house price at around £130,000.
This means that the salary needed is much less than the rest of the boroughs at £22,500.
The most common house type in this borough is a three-bed semi detached, which would require a 15% deposit of £19,500.
