Mapped: UK's most affordable towns where homes can be snapped up for less than £300k

Zoopla has identified more than 30 towns across the UK where homes can potentially be bought for less than two years' worth of household earnings.

Its analysis, covering 929 towns across Britain, revealed that a typical home is valued at £299,100. This figure works out at 4.3 times annual household earnings.

Shildon in County Durham was named the most affordable town of all, with homes there costing 1.15 times two full-time annual wages on average.

Scotland accounted for 23 of the 36 towns Zoopla identified where homes typically cost less than twice the annual wages of two full-time workers.

Meanwhile, the North East of England made up eight locations, and the North West accounted for four.

Dover was identified as the South East's most affordable town, although a home there would typically cost nearly three times annual household earnings typically, Zoopla said.

In London, the most affordable borough was Tower Hamlets, with homes there typically costing 4.91 times a household income with two full-time workers.

Richard Donnell, executive director at Zoopla, said: "House prices have been rising more slowly than incomes, helping to improve housing affordability, but higher mortgage rates continue to offset some of these gains by increasing the monthly cost of buying a home.

"Affordability varies widely across the country, with many towns in northern England and Scotland offering much better value relative to local household earnings.

"However, lower house prices don't always mean it's easier to buy, as access to employment, deposits and mortgage costs remain important considerations.

"Buyers have more homes to choose from than a year ago, and there is greater scope to negotiate on price, particularly in southern England.

"Anyone considering a move should take a fresh look at what they can afford and what's available locally.

“Expanding a search to neighbouring towns could make a meaningful difference to their buying options.”

Only postal towns with 5,000 homes or more were taken into consideration by Zoopla for the research.

According to Zoopla, these are the most affordable locations in each region or nation. The figures refer to the average home value followed by the property-to-income ratio for two full-time workers in a household:

• North East, Shildon, £73,600, 1.15
• Scotland, Fraserburgh, £116,000, 1.59
• North West, Workington, £114,900, 1.65
• Wales, Ferndale, £116,200, 1.82
• Yorkshire and the Humber, Kingston upon Hull, £131,400, 2.16
• West Midlands, Stoke-on-Trent, £160,700, 2.64
• East Midlands, Ilkeston, £192,100, 2.70
• East of England, Great Yarmouth, £166,300, 2.72
• South East, Dover, £206,300, 2.97
• South West, Bideford, £224,700, 3.35
• London, Tower Hamlets, £455,200, 4.91