UK Property Update: Market towns see sharp rise in house prices

The popularity of English market towns has increased with 70% of these towns seeing stronger house price growth than the English average over the past five years, research from Halifax Estate Agents reveals.

Beaconsfield in Buckinghamshire is the most expensive market town with an average price of £574,211, followed by Winchcombe in Gloucestershire (£324,717) and Cranbrook in Kent (£317,290). Six of the ten most expensive market towns are in the South East of England.

Stanhope in County Durham has been the best performing market town over the past five years with a 152% increase in its average house price, followed by Alford in Lincolnshire (147%) and Saltburn by the Sea in County Durham (145%). Nine of the 10 best performing market towns since 2001 are outside the south of England – the exception being Helston in Cornwall (138%).

Forty one market towns have seen a doubling of their average house price since June 2001. More than three quarters of these towns (34) are located outside the South of England. Overall, 78 market towns – 70% of those surveyed - have seen stronger price growth than the English average of 72% over the past five years.

The least expensive market town is Ferryhill in County Durham with an average house price of £70,932, followed by Immingham in North Lincolnshire (£99,336) and Crook in County Durham (£111,304).

Colin Kemp at Halifax Estate Agents, said: "Home buyers continue to be attracted to the high quality of life offered by market towns and are prepared to pay a premium to live there. Most market towns have higher house prices than other towns in their county and the majority have also seen stronger house price growth than the English average over the past five years." offer all the up to date mortgage rates, get your free quote today!