Exposed: The Market Towns with the Best and Worst Value for First-Time Homebuyers

Leek in the West Midlands is the most affordable market town for first-time buyers, at an average £191,359, and six of the 10 most affordable market towns for first-time buyers can be found in the Midlands, according to the latest Lloyds Bank report.

For all buyers, it is Immingham in Yorkshire and the Humber where buyers money goes furthest, with property prices an average £176,918.

Overall, property price growth in market towns has risen 24% over the past five years, and slightly more for first-time buyers, at 26%.

This slightly greater growth may have been influenced by the pandemic, where first-time buyers were able to cast their net wider while searching for a property, following the introduction of support schemes such as stamp duty relief.  This meant a greater number of properties became an option for first-time buyers, increasing demand in desirable market towns.

Hitchin, Hertfordshire, is the most expensive market town for first-time buyers, with an average price of £410,366.

Amongst all buyers looking for a home in a historic location, Beaconsfield comes out the costliest.  A property here, in the South East of England, will set buyers back £839,468 on average.

Reflecting on the data, Mary-Lou Press, president of NAEA Propertymark, commented: “More and more people are looking to relocate to picturesque areas across the UK in order to not only get more for their money, but also be part of a flourishing community within proximity to busier cities for work and social commitments.

“With the average deposit on a home increasing to over £60,000, many buyers, especially those stepping onto the property ladder for the first time, will be casting their nets wider in order to purchase a home that meets their expectations, but for a more affordable price compared to those located in busier cities.”

Buyer trends in market towns

Source: Halifax *12 months to May 2025 and **12 months to May 2020

Table two: First-time buyers least expensive market towns

Source: Halifax * 12 months to May 2025

Table three: All buyers least expensive market towns

Source: Halifax * 12 months to May 2025

Table four: First-time buyers most expensive market towns

Source: Halifax * 12 months to May 2025

Table five: All buyers most expensive market towns

Source: Halifax * 12 months to May 2025

Table six: First-time buyer market towns with biggest house price increases 2020-2025

Source: Halifax * 12 months to May 2020 and 2025

Table seven: All buyers, market towns with biggest house price increases 2020-2025