Property prices in market towns 'are rising'
15th Nov 2011
House prices in market towns have risen dramatically in recent years and look set to continue to do so, presenting excellent opportunities for investors, new figures show.
According to data from Lloyds TSB, average property prices in market towns across England have risen by 103 per cent from £114,718 in 2001 to £233,416 in 2011, which is equivalent to an increase of £989 per month over the past decade.
More than half of the market towns in this survey have seen house prices at least double since 2001, while two out of three market towns now have an average house price that is above their county average.
Overall, house prices in market towns are, on average, £25,592 (or 12 per cent) higher than their county average.
Jason Beedell, head of research at Smiths Gore, said it is no surprise that these homes are now proving attractive to UK property investors.
He explained: "I think that people perceive them as nicer places to live. They are quite often close to good shops - you might have to travel less than if you lived in the countryside, so people are willing to pay more for that."
Mr Beedell added that rural house prices have gone up faster than urban house prices and a lot of market towns will be in rural areas, which may be another sector that people might want to look at for investment.
©Zoopla Limited.