These 5 East Midlands market towns are the cheapest in Britain for first-time buyers, according to Lloyds
The five towns have been recognised for their reasonable house prices
Five East Midlands market towns are among the ‘most affordable’ in Britain, according to new analysis by property experts.
In its annual report on housing affordability in market towns, Lloyds found that average property prices in Chesterfield, Boston, Buxton, Sleaford and Grantham sit well below the national average.
Experts found that the average price of a home in a market town was £280,582.
The research concluded that Leek in Staffordshire was the cheapest market town to live in Britain.
The town’s average house price of £191,359 makes it attractive for first-time buyers, according to Lloyds.
Lloyds Bank analysts noted that market towns in the Midlands and North offer some of the best deals for buyers entering the market.
Chesterfield, Boston, Buxton, Sleaford and Grantham named as five of Britain’s cheapest market towns
The full list of cheapest market towns in Britain can be found below:
- Leek, West Midlands, £191,359
- Chesterfield, East Midlands, £198,054
- Northallerton, Yorkshire and the Humber, £201,628
- Selby, Yorkshire and the Humber, £202,092
- Driffield, Yorkshire and the Humber, £203,160
- Boston, East Midlands, £211,404
- Buxton, East Midlands, £224,896
- Newport, South Wales, £227,784
- Sleaford, East Midlands, £229,197
- Grantham, East Midlands, £230,464
Andrew Asaam, Homes Director at Lloyds said: “It’s no wonder market towns have stood the test of time with home-buyers, whether people are stepping onto the first rung of the housing ladder, or are making a move to their next home.
“These charming locations are filled with historic landmarks and architecture, quaint charm and community spirit, offering a calmer pace of life, often within the reaches of bigger towns and cities.
"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 farmer markets, independent shops and community spirit that make these historic places so appealing.”