SALES NEWS: Market towns attract a premium but offer quality of life and capital appreciation
Homes in south west market towns come with a price premium of 20 to 50 per cent according to new research – but they remain amongst the best value in the country.
In Devon both Kingsbridge and Tavistock have prices substantially higher than the county average of £221,468, according to research from Lloyds Bank; average prices in locations like Topsham and Budleigh Salterton confirm the same trend.
However, whereas market towns in the south east of England have average house prices of around £390,000, in Devon – even with that premium – the average is under £290,000.
Once you live in such a location, the evidence shows you usually earn good capital appreciation. Lloyds says these towns have appreciated 44 per cent in the past decade, contrasting with a national average of 28 per cent.