Boom time for market towns

UK market towns have seen an average rise in the value of properties of nearly £1,000 a month, according to new research by Lloyds TSB.

The average house price has risen by 103 per cent from £114,718 in 2001 to £233,416 in 2011, equivalent to an average increase of £989 per month over the last ten years.

More than fifty per cent of the market towns surveyed had seen the value of homes in their area double since 2001.

Nitesh Patel, housing economist at Lloyds TSB, said: “The popularity of living in market towns is clearly evident from the substantial increases in average house prices seen over the past decade, together with the significant premium that many of them command over their neighbouring towns.

“Many of these towns offer an attractive balance between being close to the countryside and ease of access to the road and rail networks that allow residents to commute to work.”

Richard Gordon of UKPIS said: “Many investors think the only place to invest is in the major cities such as London or Manchester but this latest report demonstrates the wisdom in looking at the smaller market towns. Many of these towns offer a better quality of life being smaller, quieter and closer to the countryside. However, many have excellent road and rail links which make them ideal for commuters.

“Property prices are generally lower too offering investors better value for money. Running costs are far lower too. Service charges for example are likely to be a fraction of those on similar blocks in London.

“We are currently selling a selection of one bedroom high quality apartments at Regent Court in Wokingham. Wokingham is a lovely old market town just south of Reading and just an hour from London. It has all the modern conveniences people want such as major High Street retailers, coffee shops, restaurants, Virgin Active Health Club etc. The M4 motorway and the town’s rail station makes it the ideal base for commuters working in Reading, Bracknell or London.”

Prices at Regent Court start from just £169,950. Click here for further information.