13 Oct

Markets town properties attract premium

Markets town properties attract premium

Purchasing a home within an English market town could cost an extra £34,000, a new report has found.

Research from Lloyds Bank found those buyers tempted by a traditional market town will have to pay more than if they opted for a home in the surrounding areas.

A total of 70 per cent of market towns across the country have prices above the regional average, with around one in give attracting a premium of at least £100,000.

Market towns have seen prices rise by an average of £546 per month since 2006 and Beaconsfield is now the most expensive English market town with an average property price of £958,909.

Other market towns in demand tend to be in the South East of England, especially if they are commutable to London.

"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," said Andy Mason, mortgages director at Lloyds Bank.

"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," he explained.ADNFCR-1222-ID-801827557-ADNFCR

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