Beaconsfield Top of the Pile as Market Town Houses Hold Value

The Birmingham Post (England), July 19, 2008 | Go to article overview

Beaconsfield Top of the Pile as Market Town Houses Hold Value


Home-buyers are prepared to pay more for properties in market towns to benefit from the high quality of life, research showed yesterday.

Homes in two-thirds of English market towns sell for more than those in neighbouring towns, according to Britain's biggest mortgage lender Halifax.

House price growth has been faster in many market towns, with just over half of the 112 towns recording price rises of more than the 55 per cent seen across England as a whole over five years.

Properties in Beaconsfield, in Buckinghamshire, command the largest premium, costing 144 per cent more than properties in other towns nearby.

Bakewell comes second, at 99 per cent more than the rest of Derbyshire, while in Southwell they are 93 per cent more expensive than average prices in Nottinghamshire.

Overall 18 market towns trade at a premium of more than 50 per cent to the average house price.

Martin Ellis, Halifax chief economist, said: "Home-buyers 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. Most market towns have higher prices than other towns in their county.

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