Wirral house prices rocket beyond reach of many
The cost of homes on the Wirral is rising higher than many local families can afford, according to the latest analysis of house prices that was recently published.
The report, which was produced by the Trades Union Congress (TUC), indicates that prices in roughly half of the areas under the control of the local authority have risen as high as five times what the average salary for the region is, putting them outside the grasp of many people living there.
The analysis conducted by the TUC shows a steep rise in Wirral property values since 1997, when a home in the area cost approximately three times as much as the average salary, to their current level of 5.2 times what most people in the area are earning.
Lynn Collins, the regional secretary of the TUC, said:
“We have seen a huge shift in the North West from a region that contained no area where houses prices were out of reach to local people to one in which almost half now are.”
The sharp rise in overall values includes areas of the Wirral that were previously comfortably within the reach of many prospective homeowners, including Rossendale and Bury, with significant consequences for those living in the region.
As well as ensuring that more people will continue to live in rented accommodation, the rise in house prices is also likely to make selling a home there more challenging. This means that many who bought homes before prices soared will be looking at making changes to these properties instead, especially as there are established firms that can provide home improvement services, such as paving or gravel driveways on the Wirral.
However, there are still areas within the region where prices remain affordable for the average family, particularly those that have access to two salaries.