House hunters wanting a bargain should head to these post-war new towns - full list

House-hunters hoping for a bargain should look in post-war new towns, research suggests.

Properties in these places are around £50,000 cheaper than the national average, according to analysis by mortgage lender the Halifax. It says the typical house price in a new town is £300,000, compared with a UK average of roughly £347,000.

The biggest percentage difference in comparison with the wider region is found in Peterlee, Co Durham. The typical house in Peterlee costs £127,853, which is 41% below what it is in the North East of England as a whole (£218,228).

Peterborough in Cambridgeshire was second, with properties costing 27% less on average than the East of England – £292,103 versus £402,248. Amanda Bryden, of Halifax Mortgages, said: “With the government’s ambitious plan to build a new generation of new towns, our research shows that while they offer homeowners the potential to benefit from significant price growth, they also present attractive opportunities for first-time buyers.

“It’s vital a new-towns policy prioritises affordability and sustainability. Placing social and affordable housing, energy-efficient buildings, green spaces and accessible public transport at their core would signal to investors and developers these vibrant communities will not only address the housing shortage, but also contribute to a more sustainable future.”

Over the past 30 years, the average cost of a home in a new town has risen by 441%, slightly behind the figure for the UK as a whole (454%).

Of the new towns that bucked that trend, Crawley in West Sussex topped the list, with property prices there surging by 543% since 1994.

The top 10 buys

1 Peterlee, North East

Regional average price: £218,228

New town average price £127,853

'Discount': 41%

2 Peterborough, East

Regional average price:£402,248

New town average price £292,103

'Discount': 27%

3 Skelmersdale, North West

Regional average price:£264,362

New town average price£193,095

'Discount': 27%

4 Irvine,

Regional average price: £243,707

New town average price£178,322

'Discount': 27%

5 Basildon, South East

Regional average price:£444,096

New town average price£327,314

'Discount': 26%

6 Washington, North East

Regional average price: £218,228

New town average price£165,157

'Discount': 24%

7 Runcorn, North West

Regional average price: £264,362

New town average price: £203,658

'Discount': 23%

8 Harlow, South East

Regional average price:£444,096

New town average price£345,248

'Discount': 22%

9 Glenrothes, Scotland

Regional average price:£243,707

New town average price£194,691

'Discount': 20%

10 Cumbernauld, Scotland

Regional average price:£243,707

New town average price £198,184

'Discount': 19%