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Higher House Prices in Market Towns
Houses in market towns are worth more than properties in neighbouring areas in the same county, new research from Halifax has suggested.
The mortgage provider has found that Beaconsfield is the most expensive market town in the UK, with properties in this area costing an average of £704,724 and homes in similar towns also attracting high prices.
Halifax's survey of market towns, as defined by the Campaign to Protect Rural England, found houses in these towns have property values 67 per cent higher than in neighbouring areas in the same county.
Bakewell in Derbyshire came second to Beaconsfield, where house prices average £331,117, which equates to 99 per cent higher than the average value of houses elsewhere in the county.
Martin Ellis Chief Economist at Halifax commented: "Home buyers continue to be attracted to the high quality of life, architecture, history, setting and community spirit offered by market towns and are prepared to pay a premium to live there.
"Most market towns have higher house prices than other towns in their county. The majority have also seen stronger house price growth than the English average over the past five years."
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