PROPERTY prices have seen a huge increase over the last decade, with it being £106,952 more expensive to buy a home in Cheshire West now than 10 years ago.

In recently released data surrounding the average property prices across the country, property prices in Cheshire West and Chester have risen to £271,316. This is a marked increase from the average of £164,364 in 2013.

This increase in the prices of the average home has left a generation of residents unable to afford to buy a home, amid soaring rent prices and a cost-of-living crisis.

A Government housing survey from 2022 found that, outside of London, the average age of a first-time buyer has risen to 33.4 years old. This is up from 30.6 in 2005.

Mike Amesbury, MP for Weaver Vale, said: "Skyrocketing house prices have forced people to borrow up to six times their income, making homeowners vulnerable to interest rate increases.

“This unsustainable situation has worsened over the past 13 years under the Tories, resulting in more rough sleepers, people in temporary accommodation, and others on the verge of mortgage defaults.

“To tackle these issues, we must prioritize the construction of genuinely affordable social housing instead of handing over £23 billion annually in housing benefits to the private sector, where rents continue to soar.

"With 1.2 million households in England currently stuck on social housing waiting lists, increasing the supply of such housing should also help bring down the cost of homes for sale.

“But it’s essential to build more discounted market homes in suitable locations and supported by proper infrastructure, with first-time buyers given priority. The government's First Homes scheme, despite its initial hype, only managed to construct 35 houses in its first year, falling far short of the promised thousands.

“Lastly, raising the interest rate was supposed to curb inflation, but price increases appear partly driven by profiteering in certain sectors like the UK food market. I believe the Competition and Markets Authority must intervene.”

This marked rise in house prices is a common theme across the last 30 years. Since 1995, when local data began, the average cost of buying a property in Cheshire West and Chester has risen by almost 400 per cent.

People were able to buy a home in the area for just £55,000 in 1995, which is £6,000 less than the current average deposit for a first-time buyer.