House prices in market towns growing

New research from Halifax Estate Agents has highlighted that 73% of market towns have higher average house prices than the neighbouring towns in their county.

While some 70% of market towns have seen stronger house price growth than the English average over the past five years.

Beaconsfield in Buckinghamshire is the most expensive market town in the UK, with an average price of £574,211. This is followed by Winchcombe, in Gloucestershire, at £324,717 and Cranbrook, in Kent, where the average is £317,290. Six of the ten most expensive market towns are in the South East of England.

Stanhope in County Durham has been the best performing market town over the past five years with a 152% increase in its average house price, followed by Alford in Lincolnshire and Saltburn by the Sea in County Durham. Nine of the ten best performing market towns since 2001 are outside the south of England – the exception being Helston in Cornwall.

Fifty-seven market towns have an average house price above £200,000. The majority of these towns are located in the South-East and the South-West. Eighty one market towns have an average house price above the average house price in their county.

Colin Kemp at Halifax Estate Agents, says: “Home buyers continue to be attracted to the high quality of life 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 and the majority have also seen stronger house price growth than the English average over the past five years.”