The towns where homeowners pay a £600,000 premium to live in a picturesque village
House prices in market towns are 160 per cent more than the national average
HOMEOWNERS are paying out £600,000 more to live in picturesque villages, research reveals.
Houses in almost one in five market towns are at least £100,000 more expensive than the average property in their county.
And homes in picturesque villages can come at a premium of up to 160 per cent more than the average house price in the country.
A home in Beaconsfield, Buckinghamshire, costs £958,909 - nearly £600,000 more than the average nearby house.
While properties in Wetherby are double the price of £171,236 homes in the rest of West Yorkshire.
Figures from Lloyds Bank show that the price of a market town property has risen by an eye-watering £546 a month for the past decade.
Homeowners wanting to live in an idyllic village location will now have to fork out £34,000 more than the county average.
Russell Quirk, founder of online estate agent eMoov, said: "We are seeing a rise in market towns because they are so quintessentially British.
"But as well as being picturesque and characterful, the introduction of better infrastructure means mobile phone signal and broadband is better in rural locations now, which adds to their appeal.
"On top of that, with the introduction of Crossrail and HS2 these areas have become very commutable."
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Latest figures from the Office for National Statistics show the average house price in the UK is now £218,964.
But the average price of a home in a market town is £273,757 - 25 per cent more than the national average and 7.8 times the average wage.
Andy Mason, mortgages director at Lloyds Bank, said: "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.
"The most expensive market towns are typically found in the south of England and are a commutable distance from London. More affordable market town homes can be found in the north of England.”
Three of the ten priciest areas are in Hampshire, including Alfresford where the average home costs £492,645 and Petersfield where the typical property costs £430,513.
The south east is also where house values have increased in value the most over the past ten years, with Henley-on-Thames in Oxfordshire seeing a 70 per cent rise.
Four of the five least expensive market towns are in Durham, with the average property price tag in Ferryhill just £93,291 and in Crook £108,603.