Latest news with #first-time buyers
Telegraph
31-07-2025
- Business
- Telegraph
The market towns where houses cost less than £200k
Homeowners hoping to bag a bargain in one of Britain's market towns should head to Immingham in the North East, analysis shows. Market towns are often historical settlements where regular markets are held, either in the town centre or in a hall, with some designated by royal charter. According to property experts, these towns tend to command a premium because they are typically close to large cities and offer good schools and aspirational living. Immingham, a coastal town with a large dock on the River Humber, had an average house price of £176,918 in May 2025, according to Lloyds. Further up the coast, the North Yorkshire town, Saltburn-by-the-Sea, had an average house price of £186,222. This is half the average price of a home in one of the 116 market towns in England and Wales, which stood at £363,456 in 2025, up 5pc from 2024, and compares with an average UK house price of £268,652, according to Land Registry figures. For first-time buyers, the average price of a home in market town was £280,582. Two other towns had prices of less than £200,000 for first-time buyers, the data found. The average first-time buyer paid £191,359 to buy a home in Leek, in Staffordshire, and £198,054 for a property in Chesterfield in Derbyshire.
The Independent
30-07-2025
- Business
- The Independent
Most and least expensive market towns for first-time buyers revealed
With their charm, convenience and community spirit, market towns will set first-time buyers back £280,582 on average, analysis by a major bank indicates. 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%
