According to analysis, homebuyers can save almost £50,000 on average by purchasing a property in a new city.
The average price in one of the cities is £300,656, compared to £346,995 in the UK.
A survey from Halifax found that the biggest difference compared to other nearby towns was Peterlee, Co Durham, where the average of £127,853 is 41 per cent lower than that of the North East as a whole at £218,228.
Over the past thirty years, the increase in new towns has been smaller than average: an increase of 441 percent instead of the 454 percent in Britain.
Peterlee, Co Durham has average house prices that are 41 percent lower than the regional average
New towns are often much more affordable than neighboring hubs (photo: Milton Keynes)
However, some have surpassed this – with values in Crawley, West Sussex, increasing by 543 per cent since 1994, from £63,712 to £409,836.
Amanda Bryden, head of Halifax Mortgages, said: ‘New towns have played an important role in providing affordable housing options in the UK over the years.’