Market town homes cost £34K more than county average
Market town homes could fetch nearly £34,000 more than similar properties in the same area, new analysis shows.
Research by Lloyds Bank into Land Registry data on 125 English market towns, in the 12 months to June 2016, found that 70 per cent of average house prices were above the county average.
And nearly one fifth of these towns boast properties that cost a minimum of £100,000 more than similar ones nearby.
Their popularity is driven by those looking for quality country living in locations which offer “idyllic surroundings, history and wonderful homes without compromising on many other important amenities,” says Andy Mason, mortgages director at Lloyds Bank.
On average, market town houses cost £33,911 – or 14 per cent more, with the most expensive locations to be found in the South East.
The list is led by Beaconsfield in Buckinghamshire at an impressive £958,909, with Henley-on-Thames in Oxfordshire recording £748,001, and Alfresford in Hampshire coming a very respectable third at £492,645.
Beaconsfield is also the market town where homes are 160 per cent above the county average.
Wetherby is rated second with an average house price of £341,618 – twice the price of the average in West Yorkshire – and Henley-on Thames has an average premium of £365,101.
The price of houses in market towns has also increased by 31 per cent between 2006 and 2016, an average rise of £546 a month in the last decade.
Midhurst in Sussex, Cranbrook in Kent, Marlborough in Wiltshire, Lewes in East Sussex, Petersfield and Ringwood in Hampshire and Winchcombe in Gloucestershire are in the top ten most expensive market towns.
Southwell in Nottinghamshire, Keswick in Cumbria, Bakewell in Derbyshire, Marlborough in Wiltshire, Alfresford in Hampshire, Middleton St George in Durham and Ormskirk in Lancashire are among the market towns with the highest premium to county house prices in 2016.