Where to buy if you're a first-timer

10 July 2007
Affordable housing is not out of the question for first-time buyers who know where to look, with 'bargain' homes scattered across the country, research from Halifax has revealed.

Depending on what you're looking for, a semi-terraced home or flat could be your best bet, although the perfect union of location, house type and affordability will require buyers to target particular locales.

First-time buyers focusing on good value could flock towards flats, with the study recommending Chesham in Buckinghamshire for the fusion of affordability with high quality of life in a good location.

In general, flats were revealed to be the most affordable housing type, with flats in two of three towns surveyed costing under £150,000 on average.

The best value semi-detached properties, meanwhile, were located in Sleaford in Lincolnshire, at an average cost of £139,791, while Stowmarket in Suffolk is a sure-fire hit for home-movers looking for a terraced property, with an average price of below £133,331.

"There are still some bargains to be had for first-time buyers and home-movers," remarked Martin Ellis, chief economist at Halifax.

But this location-based price index will give small comfort to those home seekers looking for housing near their place of work.

Find out more about first-time buyer mortgages

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