The Scottish new towns where homes cost up to 27 per cent less to buy

FOUR Scottish new towns have been named among the cheapest in the UK to buy a home with first-time buyers able to get savings of up to 27% in places like Irvine, Cumbernauld and Glenrothes.

New towns were constructed in the years following the Second World War as a way to house those displaced by bombings and demolitions.

Nowadays, these settlements are popular locations for first-time buyers looking to get on the property ladder.

New data from Halifax found the average price of a home in a new town is almost £50,000 lower than the UK average of £346,995.

Amanda Bryden, head of Halifax Mortgages says new towns play an "important role" in helping to provide affordable housing options across the UK and Scotland.

The 10 new towns with the biggest 'discounts' for first-time buyers

Here are the top 10 new towns with the biggest discounts to regional property prices in 2024 (with the regional average house price followed by the new town average house price and the typical percentage “discount” for people buying in a new town):

1. Peterlee, North East, £218,228, £127,853, 41%
2. Peterborough, East of England, £402,248, £292,103, 27%
3. Skelmersdale, North West, £264,362, £193,095, 27%
4. Irvine, Scotland, £243,707, £178,322, 27%
5. Basildon, South East, £444,096, £327,314, 26%
6. Washington, North East, £218,228, £165,157, 24%
7. Runcorn, North West, £264,362, £203,658, 23%
8. Harlow, South East, £444,096, £345,248, 22%
9. Glenrothes, Scotland, £243,707, £194,691, 20%
10. Cumbernauld, Scotland, £243,707, £198,184, 19%

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The 10 cheapest new towns to buy a home in the UK

Here are the top 10 new towns with the cheapest property prices in 2024 (with the average price of a first-time buyer home and the typical percentage discount compared with the wider region):

1. Peterlee, North East, £108,256, 39%
2. Washington, North East, £119,625, 32%
3. Skelmersdale, North West, £146,527, 35%
4. Irvine, Scotland, £153,641, 22%
5. Cumbernauld, Scotland, £153,680, 22%
6. Glenrothes, Scotland, £167,563, 15%
7. Newton Aycliffe, North East, £167,965, 5%
8. Runcorn, North West, £172,483, 23%
9. East Kilbride, Scotland, £181,782, 8%
10. Derry/Londonderry, Northern Ireland, £183,670, 1%

This research is based on data from Halifax’s own housing database. The prices used were averages for the 12 months to August.