Public sector workers in Salford would have to save for 17 years just to get a deposit together for a first time home, a new report by trade union UNISON shows.
The report, titled Priced Out, looked at the average price for first time buyer properties in Salford, which was £137,815, and calculated the possibility of public sector workers in five jobs actually being able to afford one.
They would need a 15% deposit to put down, which, in Salford, would be £20,672, and, at £100 savings per month, it would take 17 years to get it together, which would be followed by a mortgage of £117,142.
For an NHS cleaner on a wage of £17,460 this mortgage would be 6.7 times their salary. For a Teaching Assistant on £19,446 this would be six times their salary. For a Librarian on £23,866 this would be 4.9 times their salary. For a Nurse on £23,023 this would be 5.1 times their salary. And for a PCSO on £23,346 this would be five times their salary.
It could be worse – in Trafford it would take a public sector worker 29 years just to save for a deposit.
Commenting on the report, UNISON North West regional secretary Kevan Nelson says: "Owning a home is now little more than a pipe dream for most public sector workers. Deposits and mortgages are quite simply way out of reach, while the spiralling cost of renting is eating up a growing proportion of the take home pay of working people across Britain. Wage rises haven't kept pace with soaring house prices and rents, and the situation looks set to worsen.
"The struggle for housing cuts across generations, jobs and regions" he adds "Employees are being forced to work further away from their jobs, and young people cannot afford to move out of the family home. The Government has had more wake-up calls over the growing housing crisis than hot dinners. Decisive, creative and responsible action is needed now."
To read the full UNISON report – click here
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