The level of home ownership in Greater Manchester has fallen at the sharpest rate than any other major city area in the last decade.

Analysis by the Resolution Foundation revealed that the rate of home ownership in the city has plummeted 14pc since 2003, to 58pc.

This fall outstrips even inner London, which has traditionally been viewed as the epicentre of the nation’s housing crisis, and where ownership tumbled 6.2pc in the same period.

Home ownership in inner London peaked in October 2004, and fell from there; in the outskirts of the capital the highest level was in October 2000.