The value of mortgages for properties in market towns is on the increase, new figures have shown.
According to research from Lloyds TSB, the average house price in such locations throughout England escalated from £114,718 in 2001 to £233,416 ten years later.
This marks a jump of 103 per cent and is equivalent to a leap of £989 per month across the last decade.
The study revealed more than half of the market towns considered have witnessed home costs swell by at least double, with northern England experiencing some of the most marked increases.
Mortgage values in Stanhope, Ferryhill, Alford and Saltburn will all have hiked in the last ten years, with these places among those to have seen the largest rises.
Nitesh Patel, housing economist at Lloyds TSB – whose brands include Black Horse, Business Banking and Scottish Widows – noted: “The popularity of living in market towns is clearly evident from the substantial increases in average house prices seen over the past decade.”
The industry figure added these properties often command a considerably higher premium over their neighbouring areas.
