Best value for money towns in Britain

New research from Halifax has identified those towns in Britain that offer the best value for money for first-time buyers and home-movers.

Chesham in Buckinghamshire offers the best value flats, Sleaford in Lincolnshire has the best value semi-detached properties and Stowmarket in Suffolk is best for terraces.

Best value for money

Halifax has measured value for money by examining house prices in 549 post towns, and then ranked them according to the Halifax Quality of Life Index. This index identifies the best places to live in Great Britain by ranking local performance across a range of key indicators.

Flats in Chesham offer the best value for money

Among all the towns with an average flat price below £150,000, Chesham in Buckinghamshire is the best value for money. The town was ranked sixth best place to live in the country according to the 2006 Halifax Quality of Life Survey.

Basingstoke, Bracknell and Aylesbury are the next highest-ranked towns in terms of value for money. These towns were ranked 12th, 13th and 15th respectively in the 2006 Halifax Quality of Life Survey.

Terraced houses in Stowmarket offer the best value for money

Stowmarket in Suffolk is ranked the 17th best place to live in the country, according to the Halifax survey. It has an average terraced property price of £133,331 – the best value for terraced properties. Diss in Norfolk and Melksham in Wiltshire are the towns with the next highest quality of life (72nd and 87th respectively) with an average terraced house price below £150,000.

Sleaford in Lincolnshire is the best value for semi-detached houses

Among towns with an average semi-detached house price below £150,000, Sleaford in Lincolnshire offers the best value for money. The average semi-detached house price there is £139,791. The town is ranked the 129th best place to live according to 2006 Halifax Quality of Life Survey.

Martin Ellis, chief economist at Halifax, commented: “There are still some bargains to be had for first-time buyers and home-movers. Chesham is the best value for money location in the country for flats, followed by Stowmarket for terraced properties."

KEY FINDINGS

Flats

Seven towns ranked in the top 50 (out of a total of 549 towns) offering the highest quality of life in Great Britain had an average selling price for a flat of below £150,000 in Q1 2007. Six of these towns are in the South East.

Flats sell for an average price of below £150,000 in two out of three towns

67% of towns surveyed have an average price for a flat below £150,000. All the towns in the North of England and East Midlands have an average price for a flat below £150,000. The comparable figures for Scotland and the North West are 98% and 93% respectively.

Belshill most affordable town to purchase a flat in Great Britain

Belshill in Scotland is the most affordable town in Great Britain for a flat with an average price of £64,203. All of the ten most affordable towns for a flat are in Scotland.

Terraces

Ten towns in the top 150 (out of a total of 549) offering the highest quality of life in Great Britain had an average selling price for a terraced house below £150,000 in Q1 2007.

Terraces sell for an average price of below £150,000 in one out of two towns

49% of towns surveyed have an average price for a terraced house below £150,000. Almost nine in ten towns (89%) in the West Midlands and Wales have an average price of a terraced property below £150,000. The comparable figures for the North and East Midlands are 87% and 83% respectively.

Lochgelly most affordable town to purchase a terraced property in Great Britain

Lochgelly in Scotland is the most affordable town in Great Britain for a terraced property with an average price of £70,500. Six of the ten most affordable towns for terraced properties are in Scotland, two are in the North West and two in the North.

Semi-detached

Seven towns in the top 200 (out of a total of 549) offering the highest quality of life in Great Britain had an average selling price for a semi-detached house below £150,000 in Q1 2007.

Semi-detached houses sell for an average price of below £150,000 in almost one-third of towns 31% of towns surveyed have an average price for a semi-detached house below £150,000. Almost nine in ten towns (89%) in Wales have an average price of a semi-detached property below £150,000. The comparable figures for Scotland and the North are 76% and 67% respectively.

Peterlee most affordable town to purchase a semi-detached property in Great Britain

Peterlee in the North is the most affordable town in Great Britain for semi-detached property, with an average price of £103,093. Of the ten most affordable towns for semi-detached properties, four are in Scotland, three in the East Midlands, one in the West Midlands, one in Wales and one in the North.