Zoopla looked at the 300 most popular towns for families looking to buy three-bed homes, based on views per property, and ranked them according to affordability.
To do this, it worked out the value-to-earnings ratio - how many years’ salary it would take for two adults looking to buy a three-bed home together.
Seven of the 10 most affordable towns in the UK were in the North East where the average monthly repayments for a family home, based on an 80% loan-to-value mortgage, are as low as £325.
Below are the most affordable towns in the UK for families to live, according to Zoopla’s findings. They are listed in reverse order, with the most affordable place last.
Where do you think is the best value place to live in the North East, and what would you like to see done to make homes more affordable?
1. Hartlepool - £522
Hartlepool is the 7th most affordable place in the North West for families, according to Zoopla, and the 10th most affordable in the UK. The average price of a three-bed home there is £132,600, which is 2.25 times the average annual earnings of two adults working full-time. The estimated monthly repayment on an 80% loan-to-value mortgage is £522. | Chris Maddison - stock.adobe.com Photo: Chris Maddison - stock.adobe.com
2. Ashington - £515
Ashington, in Northumberland, is the 6th most affordable place in the North West for families, according to Zoopla, and the 9th most affordable in the UK. The average price of a three-bed home there is £130,800, which is 2.10 times the average annnual earnings of two adults working full-time. The estimated monthly repayment on an 80% loan-to-value mortgage is £515. | Google Photo: Google
3. Crook - £465
Crook, in County Durham, is the 5th most affordable place in the North West for families, according to Zoopla, and the 7th most affordable in the UK. The average price of a three-bed home there is £118,100, which is 1.94 times the average annual earnings of two adults working full-time. The estimated monthly repayment on an 80% loan-to-value mortgage is £465. | Google Photo: Google
4. Stanley - £450
Stanley, in County Durham, is the 4th most affordable place in the North West for families, according to Zoopla, and the 6th most affordable in the UK. The average price of a three-bed home there is £114,450, which is 1.88 times the average annual earnings of two adults working full-time. The estimated monthly repayment on an 80% loan-to-value mortgage is £450. | Google Photo: Google