Perhaps it shouldn’t come as too much of a surprise in this nation of shopkeepers, but it seems that market towns have the edge when it comes to property prices.
It’s an edge that’s worth quite a bit, too. Market towns have property prices that are, on average, £30,000 more than their neighbouring conurbations, according to recent research from Lloyds Bank.
The prices of properties in market towns have risen by 21% since 2012 to a national average of £280,690 – eight times the size of the average full-time salary in England.
The UK’s favourite market towns
Beaconsfield is by far the priciest market town in the nation as it recently became the first to break the £1,000,000 average house price barrier. Henley-on-Thames follows close behind with an average house price of £831,452. In third place is Alfresford in Hampshire, where houses are a relative snip at £541,529.
It seems it’s the proximity to London and to the Chilterns that makes Beaconsfield so attractive – and expensive. As usual, ripples will spread outwards as people look for more affordable properties, so any market town in the south of England will start to pick up momentum, especially if it’s within two hours or so of London.
What’s the appeal?
The thing about market towns is that they offer the village feel of a, well, village, within a well-served town. These towns are usually quite historic, too, with their own individual quirks and character, as well as a good stock of period properties. It’s these advantages that people are willing to pay over the odds for, especially if the town is near to bigger cities, especially London, Oxford, Bristol and Manchester.
Don’t rest on your laurels, though
Of course, location alone doesn’t sell a property, so if you’re about to go to market, don’t be complacent. You’ll still need to appeal to potential buyers, so make sure your property is as good as it can be before you go live.
