The UK's cheapest market town where homes sell for just £125k

Leek, a quaint market town nestled in the Staffordshire Moorlands, has officially been named the most affordable market town in the UK for first-time buyers. According to data from Lloyds Bank, the average property price for newcomers to the housing ladder in Leek stands at £191,359, more than £89,000 below the national average for market towns, which currently sits at £280,582.

But for those browsing the housing market today, on property sites like Zoopla, there are several two-bedroom mid-terrace homes in Leek listed for as little as £125,000. Streets like Osborne Street and Fountain Street offer traditional terraced houses in ready-to-move condition, making them an attractive proposition for young couples, downsizers, or those looking to escape inflated prices elsewhere in the country.

Leek is not just affordable, it's also packed with character.

Known for its cobbled streets, Victorian architecture and panoramic views over the Peak District, the town blends rustic charm with modern-day convenience.

Once a thriving centre of the textile industry, Leek still retains much of its historical identity.

Its weekly outdoor market has run since the 13th century, and the town boasts a number of independent boutiques, cosy pubs, cafes and galleries that give it a strong sense of community and individuality.

The town's location is another draw. Leek sits just a short drive from Buxton and Ashbourne, with Manchester and Stoke-on-Trent also within reach, making it a viable base for commuters or remote workers seeking a slower pace of life.

With plenty of countryside on the doorstep, including the southern edges of the Peak District National Park, it's also ideal for walkers, cyclists and lovers of the outdoors.

Lloyds' data examined 116 market towns across England and Wales, other towns making the list included Chesterfield and Northallerton.

Here are the least expensive market towns according to Lloyds, with the average first-time buyer house price in the 12 months to May 2025:

Leek, West Midlands, £191,359

Chesterfield, East Midlands, £198,054

Northallerton, Yorkshire and the Humber, £201,628

Selby, Yorkshire and the Humber, £202,092

Driffield, Yorkshire and the Humber, £203,160

Boston, East Midlands, £211,404

Buxton, East Midlands, £224,896

Newport, South Wales, £227,784

Sleaford, East Midlands, £229,197

Grantham, East Midlands, £230,464

While pricey places like Beaconsfield and Amersham remain aspirational, towns like Leek demonstrate that the idyllic 'market town lifestyle' isn't out of reach for budget-conscious buyers.

For those priced out of the south or looking for a more balanced way of life, Leek could offer historic charm and a foot on the property ladder without breaking the bank.