The 10 most expensive market towns revealed

Owning a home in a picturesque market town could cost almost £34,000 more than a similar property in a neighbouring area.

Lloyds Bank's analysis of house price growth in 125 market towns in England over the year to June 2016 (using Land Registry data), found that more than two thirds (70 per cent) of market towns have average prices above their county average and almost one in five have properties that are at least £100,000 more than similar ones in surrounding areas.

House prices in market towns across England are, on average, £33,911 - or 14 per cent - higher than the average in the surrounding county.

The most expensive market towns are in the South East, with Beaconsfield in Buckinghamshire topping the list with an average house price of £958,909. This is followed by Henley-on-Thames in Oxfordshire at £748,001, and Alresford in Hampshire at £492,645.

SIGNIFICANT PREMIUMS

Beaconsfield also has the largest house price premium across England, with homes priced at 160 per cent (or £589,808) above the county average.

This is followed by Wetherby in West Yorkshire, which has an average house price that is double its surrounding area, at £341,618 against £171,236, and Henley-on-Thames in Oxfordshire, which has an average premium of £365,101.

10 most expensive market towns in 2016
TownCountyRegionAve house price (£)
BeaconsfieldBuckinghamshireSouth East958,909
Henley-on-ThamesOxfordshireSouth East748,001
AlfresfordHampshireSouth East492,645
MidhurstSussexSouth East468,027
CranbrookKentSouth East451,780
MarlboroughWiltshireSouth West439,658
LewesEast SussexSouth East436,680
PetersfieldHampshireSouth East430,513
RingwoodHampshireSouth East411,855
WinchcombeGloucestershireSouth West408,475

Lloyds Bank also found that house prices in market towns across England have typically risen by £65,559 (or 31 per cent) from £208,197 in 2006 to £273,757 in 2016, which equates to an average rise of £546 a month over the past 10 years.

Andy Mason, mortgages director at Lloyds Bank, says: '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. As a result, the majority of homes in market towns command a significant premium over their neighbouring towns.'

10 market towns with hughest premium to county price
TownCountyAve house price (£)Ave house price in county (£)Prem to county (%)
BeaconsfieldBuckinghamshire958,909369,100160
WetherbyWest Yorkshire341,618171,236100
Henley-on-ThamesOxfordshire748,001382,90095
SouthwellNottinghamshire309,927167,84585
KeswickCumbria302,615175,34173
BakewellDerbyshire315,042183,18272
MarlboroughWiltshire439,658256,58571
AlfresfordHampshire492,645291,45069
Middleton St GeorgeDurham215,442130,41065
OrmskirkLancashire244,075153,44659

This article was written for our sister website Moneywise.

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