THREE County Durham towns have landed in a list of the cheapest market towns in England for home buyers.

According to a new report by Halifax, Ferryhill made the top spot for the least expensive market town with an average house price of £78,317 - compared to the most expensive in Beaconsfield, South East, which comes in with an average price tag of £1,053,975.

Crook came in at third cheapest with an average price of £115,975 and Stanhope came in at fifth with an average price of £146,126 while Saltburn-by-the-Sea came in fourth place with an average price of £142,849.

Andrew Mason, mortgages product director at Lloyds Bank, said: “For home buyers who are looking for market charm, but not necessarily

needing to commute to London, the most affordable towns reside in Yorkshire, Lincolnshire and the North.”

With the appeal of market, over the past five years, house prices in these areas have increased by an average of £915 per month, Halifax said.

The report found home buyers looking to live in one of England’s market towns face paying a typical premium of more than £41,000 or an average of 17 per cent higher than the surrounding county.

The average house price in a market town in England is £290,775 - £54,908 higher than in 2013 when it was £235,867.

Mr Mason added: “The value put on quality of life and kerbside appeal is clear.”