Beaconsfield in Buckinghamshire is the UK’s first market town where homes typically sell for over £1m, Lloyds Bank research has found.
Beaconsfield house prices average at £1.05m, a 161% premium compared to house prices (£402,000) in the county.
The market town is close to the Chiltern Hills (pictured) and has a 40 minute commute to London.
Andrew Mason, mortgages product director at Lloyds Bank, said: “Understandably, homebuyers continue to be attracted to the charm and high quality of life offered by market towns and are typically happy to pay extra to live there.
“The most expensive market towns are found in the South East at a commutable distance from London, with many homes in Beaconsfield costing more than £1m.”
Other market towns where house prices are significantly higher than their respective counties are Wetherby (£367,000 compared to £175,000 in West Yorkshire), Henley on Thames (£831,000 compared to £399,000 in Oxfordshire) and Bakewell and (£355,000 compared to £188,000 in Derbyshire).
Overall house prices are typically £30,000 higher in market towns compared to neighbouring areas.