21 Jul

People will 'pay a premium' for market town properties

People will 'pay a premium' for market town properties

The latest Halifax Market Town Review has looked at 112 English towns with populations of between 3,000 and 30,000 and found that two-thirds have higher average house prices than neighbouring municipalities.

Beaconsfield in Buckinghamshire was shown to the most expensive English market town, with an average property price of £704,724 in March.

In addition, eighteen other such towns had an average house price of over £300,000.

Meanwhile, 60 out of 112 English market towns experienced above average increases in average property values over the last five years.

Martin Ellis, chief economist at Halifax, commented: "Homebuyers continue to be attracted to the high quality of life, architecture, history, setting and community spirit offered by market towns and are prepared to pay a premium to live there."

In related news, Halifax announced last week that it was reducing the rates on many of its mortgages.

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