Buying a house in a 'new town' is up to £50,000 cheaper, says Halifax

The average house price in newer towns is £300,656, compared with a UK average of £346,995

Boxes packed as homeowner moves into a new property
(Image credit: Oscar Wong via Getty Images)

House buyers could save up to £50,000 by purchasing a property in a new town built after the Second World War compared to elsewhere in the UK, according to Halifax.

The lender says the average house price in a new town is £300,656, as opposed to a UK average of £346,995.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.