And it means that buyers in the area pay just £510 in monthly mortgage payments, which is just 16% of the area's average £3,280 monthly salary.
Coming in third is Glasgow, where the average first-time buyer property is £152,270 and average monthly mortgage payments are £650.
Liverpool was ranked the second cheapest region to buy a home with the average one or two bed property costing £130,800.
Mortgage payments on this home would come in at £540 a month and would be 3.7% of the average £2,980 monthly salary.
Newcastle was also deemed attractive for wanna-be buyers, with the average one or two bed property costing £150,360.
