Homes in England’s market towns cost £34,000 more

Ryan Bembridge

October 24, 2016

market-town-house-homes

Buying a house in one of England’s market towns costs £34,000 more than neighbouring areas, research from Lloyds Bank has found.

House prices in market towns have grown by 31% in the last 10 years to average £273,757.

Unsurprisingly given its close proximity to London South Eastern market towns are most expensive, with Beaconsfield in South Buckinghamshire costing £958,909.

Homes £450,000 cheaper one hour outside London

The next most expensive towns are Henley-on-Thames in Oxfordshire (£748,001) and Alfresford in Hampshire (£492,645)

The horse racing market town of Wetherby has double the average price  of West Yorkshire, at £341,618 against £171,236.

For homebuyers looking for more affordable market town living, the average price of a market town is cheaper in parts of Northern England.

For example Ferryhill and Crook, both in Durham, have an average property value of £93,291 and £108,603.

Four of the five least expensive market towns surveyed are in Durham.

Andy Mason, mortgages director at Lloyds Bank, said: “Market towns continue to be popular with homebuyers looking for a quality of life associated with country living.  These locations offer many benefits such as idyllic surroundings, history and wonderful homes without compromising on many other important amenities.

“As a result, the majority of homes in market towns command a significant premium over their neighbouring towns.  The most expensive market towns are typically found in the south of England and are a commutable distance from London. More affordable market town homes can be found in the North of England.”

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