Halifax has revealed that home-buyers are prepared to pay a premium to live in a spa town.
All 18 spa towns have higher average house prices than their region, while 16 out of 18 spa towns have higher average house prices than the neighbouring towns in their county.
Spa towns tend to rank highly for quality of life. 16 out of 18 spa towns are in local authority areas, which have larger than average houses. Owner occupation rates are higher than average in the LAs of 15 spa towns, while traffic levels are lower than average in the LAs of 15 spa towns. 16 spa towns are in LAs, which have higher than average employment levels.
Epsom in Surrey is the most expensive spa town with an average price of 297,354, followed by Tunbridge Wells in Kent at 279,978 and Boston Spa in West Yorkshire at 277,215. The least expensive spa towns are Llanddrindod and Builth Wells, both in Powys in Wales with average house prices of 158,687 and 173,405 respectively.
Colin Kemp, managing director of Halifax Estate Agents, says: “Spa towns are clearly popular with homes buyers with their house prices usually trading at a premium to nearby towns. The ten best performing spa towns since 2001 are all outside the south of England with Welsh spa towns seeing keen interest.