Market towns enjoy £1,000 a month house price rise
Monday, 14 November 2011 9:22 AM
Market towns see £1,000 a month average house price rise in ten years say Lloyds TSB.
Over half of all market towns surveyed by the bank enjoyed a doubling in prices during the last decade, from £114,718 on average in 2001 to £233,416 in 2011.
Stanhope in County Durham was the biggest winner, with 158 per cent rise in prices.
Two out of three market towns have a higher average house price than their county average.
Nitesh Patel, housing economist at Lloyds TSB, said: "The popularity of living in market towns is clearly evident from the substantial increases in average house prices seen over the past decade, together with the significant premium that many of them command over their neighbouring towns.
"Many of these towns offer an attractive balance between being close to the countryside and ease of access to the road and rail networks that allow residents to commute to work."
Beaconsfield in Buckinghamshire is the most expensive market town in England, with an average house price of £779,986.
Of the twenty three market towns with an average house price exceeding £300,000 only four are outside southern England.
Ferryhill in Durham is the least expensive market town in England with an average house price of just £89,446.
Since the start of the 2007 housing downturn house prices in market towns have gone up an average of five per cent.
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