For buyers looking for picturesque historic towns to settle in and investors looking for in-demand locations that are bucking the national slow down, Britain’s market towns hold the answer.
Research by Lloyds Bank which tracks house price movements in 113 market towns in England between 2005 to 2015, has revealed that market towns typically demand a premium of £24,000. But as with most UK property trends, there is a significant north, south divide.
Typically, the South East of England leads the trend for premium market town property with Beaconsfield topping the list for the most expensive market town in England with an average house price falling just short of the £1 million mark. The historic town in South Buckinghamshire which is only 40 minutes commute from London sees homes trading at 189% (the equivalent of £652,178) above the county average.
Following in Beaconsfield’s footsteps are the Sussex towns of Lewes and Midhurst with an average house price of £408,641 and £403,893 respectively.
The premium for market towns continues in the north of the country, but significantly, bargains can still be found, with forty percent of market towns with the lowest house prices located in the north-east. For those looking to invest in a market town, Durham’s Ferryhill has an average house price of just £78,000.
“Homes in market towns typically command a significant premium over their neighbouring towns. The quality of life benefits often associated with living in such locations are still proving popular among homebuyers. Market towns are often particularly attractive for those looking to move into more idyllic surroundings without sacrificing many of the important amenities they currently enjoy,” commented, Mortgages Director for Lloyds Bank, Andy Mason.
