Leek Tops List of Britain’s Most Affordable Market Towns for First-Time Buyers

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First-time buyers looking to get onto the property ladder could find hope in a new study that reveals several market towns in Britain where average house prices fall below £200,000. Six of the most affordable locations are situated in the Midlands, with the top spot going to Leek in Staffordshire.

The report from Lloyds, using data from Halifax, reveals that the average cost of a first home in a market town now stands at £280,582. That’s up by 2% in the past year and 26% since 2020. But despite this upward trend, there are still pockets where prices remain within reach for those just starting their property journey, especially in parts of the Midlands and Yorkshire.

Top Picks Under £200k

Leading the list is Leek, a market town in Staffordshire, West Midlands, where the average home for a first-time buyer is just £191,359. The town offers traditional charm, countryside access, and lower housing costs, making it an increasingly attractive option.

Chesterfield, located in the East Midlands, closely follows homes priced at an average of £198,054. These two towns are the only ones in the study where average first-time buyer homes remain below £200,000, setting them apart when affordability is a growing concern nationwide.

Yorkshire and the Humber also shows substantial value. Northallerton (£201,628), Selby (£202,092), and Driffield (£203,160) are all priced just above the £200k threshold, still offering comparatively reasonable entry points for young buyers and small families.

Other affordable market towns highlighted include Boston (£211,404), Buxton (£224,896), Sleaford (£229,197), and Grantham (£230,464), all situated in the East Midlands. These areas provide first-time buyers with a mix of local amenities and a more relaxed pace of life, typically less expensive than urban centres or more southern regions.

The research analysed 116 market towns across England and Wales. While most have seen steady price increases, the Midlands consistently stood out for combining affordability with livability.

Though much of the media attention focuses on high-priced areas, towns like Leek and Chesterfield quietly present real opportunities for buyers with tighter budgets.