Market town charm ...but at what cost?

HOMES in market towns have soared in cost by some 26% since 2020 — and first-time buyers now have to pay an average £280,582 for one, analysis has revealed.

- By Vicky Shaw

Market towns are known for their charm, convenience and community spirit, and prices across England and Wales have increased by 2% annually according to Lloyds, which used data from Halifax, part of the same group.

Leek in Staffordshire was named the most affordable market town for first-time purchasers, with an average property price of £191,359.

Six of the 10 least expensive locations recorded are in the Midlands.

With its commuting links to the capital, Hitchin in Hertfordshire was identified as the most expensive market town for first-time buyers, with the study recording an average selling price there of £410,366.

When looking at all types of buyers, the average house price in market towns was put at £363,456 — up by 5% in the past year and by 24% over the past five years.