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November 19, 2012

English market towns forever popular

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by Gill Montia

English market towns forever popular

Homes in England’s market towns are attracting an average price premium of £23,000, according to latest research from Lloyds TSB.

What’s more, the premium has typically doubled in the past decade taking prices 11% above the county average.

Beaconsfield in Buckinghamshire is way ahead, with houses trading at 163% above the average house price in Bucks.

It is also the most expensive market town in England with an average house price of £810,704.

Bakewell follows on with prices 123% above the Derbyshire average and Wetherby comes next with properties costing almost twice as much compared with West Yorkshire as a whole.

Bakewell is the most expensive market town outside southern England with an average property value of £353,029.

However, over the past decade market towns in northern England have seen some big price increases.

For example, in Seahouses in Northumberland the value of the average dwelling has risen from £79,240 in 2002 to £185,259 today.

Lloyds TSB housing economist, Nitesh Patel, comments: “Home buyers are attracted to the high quality of life, architecture, history, setting and community spirit typically associated with market towns and are accordingly prepared to pay a premium to live in them.”


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