LESS than a third of homes on sale in Bury are affordable for first-time buyers, statistics reveal. New research by housing charity Shelter found that in 56 per cent of the region, families hoping to get on the property ladder were unable to afford properties.

The charity looked at asking prices for all of the properties for sale in the North West on a single day.

They then compared these with the mortgage that families, couples and single people on average wages could afford as first-time buyers.

In 15 local authority areas in the North West, less than a quarter of the homes on the market were affordable for families.

This includes Blackpool, where only 23 per cent of the homes for sale were affordable, Stockport (19 per cent affordable) and Chorley (21 per cent affordable).

Campbell Robb, Shelter’s chief executive, said: “When the number of affordable properties in an entire town is so small, it’s not difficult to see why a stable home of their own is quickly becoming a distant dream for the next generation.

“Young people are working hard and doing their bit. Now the government has to meet people halfway and increase the supply of affordable homes — not the supply of credit — or the prospect of a home of their own will slip even further out of reach for future generations.”