Most and least expensive market towns for first-time buyers revealed
Across England and Wales, the typical amount paid by first-time buyers for a home in a market town has increased by 2% annually and by 26% since 2020, according to Lloyds, which used data from Halifax, part of the same banking group.
Leek in Staffordshire in the West Midlands was identified as the most affordable market town for first-time buyers in the study, with an average property price of £191,359.
Six of the 10 most affordable market towns for first-time buyers in the study are located in the Midlands.
With its commuting links to London, Hitchin in Hertfordshire was identified as the most expensive market town for first-time buyers, with an average price of £410,366.
Looking at all buyers, the average house price in market towns was put at £363,456, up 5% in the past year and 24% in the past five years.
The research tracked house prices across 116 market towns.
Beaconsfield in Buckinghamshire was identified by Lloyds as the most expensive market town for all buyer types, with an average price of £839,468.
Nearby Chesham and Amersham were identified in a separate study by L&G this week as Britain's best places to retire.
Andrew Asaam, homes director, Lloyds, said: 'That 'best of both worlds' feeling has led to house prices in these areas holding up. In fact, the priciest market towns are amongst the most expensive locations, outside of Greater London, to settle into a home.
'It's worth looking beyond the most popular spots as some market towns are great value for money while offering the farmers' markets, independent shops and community spirit that make these historic places so appealing.'
The report quoted Amy Flynn, 26, who got onto the property ladder in Bromsgrove, Worcestershire.
She said: 'When looking to buy our first home, location was very important to us. We chose Bromsgrove, a market town, primarily for its connectivity, allowing us to easily commute to work and visit family and friends.
'Beyond logistics, we were drawn to the town's atmosphere. It has plenty of supermarkets, coffee shops, parks, pubs, gyms, barbers, nail salons and lots of charity shops to browse – everything a young couple could need.'
She added: 'Being within walking distance of everything we need means we don't need to spend as much money on petrol or delivery, helping us to save those extra pennies which are very important when navigating bills and expenses for the first time.
'Choosing Bromsgrove means we can still enjoy a fulfilling lifestyle while managing the financial responsibilities of buying our first home.'
Here are the least expensive market towns according to Lloyds, with the average first-time buyer house price in the 12 months to May 2025:
1. Leek, West Midlands, £191,359
2. Chesterfield, East Midlands, £198,054
3. Northallerton, Yorkshire and the Humber, £201,628
4. Selby, Yorkshire and the Humber, £202,092
5. Driffield, Yorkshire and the Humber, £203,160
6. Boston, East Midlands, £211,404
7. Buxton, East Midlands, £224,896
8. Newport, South Wales, £227,784
9. Sleaford, East Midlands, £229,197
10. Grantham, East Midlands, £230,464
Here are the most expensive market towns for first-time buyers, according to Lloyds:
1. Hitchin, East of England, £410,366
2. Altrincham, North West, £404,864
3. West Malling, South East, £396,925
4. Hertford, East of England, £392,310
5. Saffron Walden, East of England, £363,960
6. Wimborne, South West, £361,591
7. Market Harborough, East Midlands, £353,250
8. Chipping Norton, South East, £353,077
9. Didcot, South East, £352,919
10. Thatcham, South East, £349,602
And here are the market towns with the biggest house price increases between 2020 and 2025 in the study, across all buyer types. Figures show the average house price in the 12 months to May 2025 and the percentage increase over the five years:
1. Crook, North East, £207,250, 99%
2. Helston, South West, £348,017, 62%
3. Chipping Norton, South East, £617,697, 61%
4. Skipton, Yorkshire and the Humber, £365,674, 60%
5. Carnforth, North West, £326,911, 50%
6. Wetherby, Yorkshire and the Humber, £498,661, 49%
7. Holmfirth, Yorkshire and the Humber, £391,639, 46%
8. Boston, East Midlands, £262,955, 44%
=9. Selby, Yorkshire and the Humber, £286,525, 40%
=9. Retford, East Midlands, £305,674, 40%
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Finextra
41 minutes ago
- Finextra
Klarna considers autumn IPO revival
After pausing plans for its initial public offering amid market turbulence in the spring, Klarna is looking to revive its listing this autumn. 0 The buy now, pay later giant and its advisers are preparing to go public in September or October, according to a Sky News, citing a memo. However, no firm decision has been made with the move only expected if market conditions are conducive. In April, the Swedish company paused plans to list its ordinary shares on the New York Stock Exchange amid market turbulence sparked by President Donald Trump's tariffs. The firm had been looking to raise in the region of $1 billion with a market valuation of $15 billion. Having made its name as a BNPL pioneer, Klarna is busy diversifying. Last week it scored an Electronic Money Institution licence from the UK's FCA, paving the way for a full-frontal assault on the retail banking market.
Daily Mail
2 hours ago
- Daily Mail
Beauty sector faces huge job losses as Labour's tax hikes turn ugly
Beauty businesses face shedding 14,000 jobs this year due to Labour's tax rises, a report has found. The sector had been booming, with brand owners such as Trinny Woodall and Charlotte Tilbury cashing in. But industry bosses say the Government's tax hikes are now harming economic growth which will mean fewer jobs available for young people. The report, by advisory firm Oxford Economics, predicts the number of jobs in the sector will shrink by two per cent – about 14,000 – this year. In April, hair and beauty firms were hit hard by Chancellor Rachel Reeves 's rise in employers' National Insurance. Firms also suffered an inflation-busting increase in the minimum wage. The bleak outlook for jobs comes after the sector surged following the pandemic. In 2024, it was worth £30.4billion and employed 697,000 people, figures from the British Beauty Council show. Millie Kendall, the council's boss, said: 'The Government talks about aiming for growth but, unfortunately, its actions have caused exactly the opposite. 'It is a shame as we had the momentum to produce exactly what they wanted as well as help rescue the high street. But placing the tax burden on employee-dense businesses has taken the wind out of our sails.' Ms Kendall added this would be a hammer blow for young people, who often get their first experience of employment in a shop, salon or barbers. She said: 'This is a tragedy for [them] and those looking to get back on the career ladder.' The British Hair Consortium, which represents 50,000 hairdressers, has said salons are now sacking staff and bringing them back on a self-employed basis to avoid the tax hikes. A report by CBI [Confederation of British Industry] Economics, has also predicted there will be a 93 per cent fall in jobs in the sector by 2030 – taking the heaviest toll on female workers. Some 84 per cent of those employed in the beauty industry are women.
Daily Mail
2 hours ago
- Daily Mail
Water regulator Ofwat to pour £75million of taxpayers' cash into telling households how to save water... while billions of litres wasted daily due to leaky pipes
Water regulator Ofwat is to splurge up to £75 million of bill-payers' cash telling households how to save water – despite billions of litres being wasted every day due to leaky pipes. The watchdog, which ministers have vowed to scrap, is set to launch the multi-million-pound advertising and information campaign to reduce water usage by homes and businesses. Ofwat said the campaign will be funded by water bills – which are already set to rise by an average of £123 this year. Meanwhile, an average of three billion litres of water – equivalent to 1,200 Olympic sized swimming pools – is being wasted daily in England and Wales due to leaky pipes, research by the House of Commons Library for the Liberal Democrats found this year. Government figures also show that household water use is already falling – down by an average of four litres per person per day over the past two years. Ofwat chief executive David Black, who was paid £250,000 including pension last year, told MPs that the campaign would be 'cheaper than the alternative of building major new sources of supply' if it succeeds. But John O'Connell, of the TaxPayers' Alliance, said: 'Taxpayers won't miss this lecturing regulator once it's abolished. For decades, Ofwat has failed to balance the competing priorities of keeping bills low and ensuring investment, while also being slow to some of the excesses of water executives.' An Ofwat spokesman insisted customers would only pay a small amount on their bills as a result of the campaign. They said: 'The campaign is part of a much larger strategy to deliver 30 new reservoirs and water supply projects, along with the roll-out of a further 10 million smart meters and water labelling. 'The average customer will only pay 62p per year for the delivery of the campaign, during which time leakage is set to reduce by a further 17 per cent.' The campaign will be funded by up to £75 million over five years, and will support 'a large-scale campaign on efficient water use covering England and Wales and both household and business sectors', documents revealed. Environment Secretary Steve Reed announced last month that regulator Ofwat would be scrapped, as part of measures to pull overlapping water regulation by four different bodies into one 'single powerful' regulator responsible for the whole sector. Shadow environment secretary Victoria Atkins said: 'Labour and Ofwat need to learn how to turn off the tap of wasteful spending on lecturing the public and instead focus on mending.'
