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Market town premium: Homes are worth £36k more on average

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Homes in England’s market towns are now worth £36,000 more than other locations, with buyers typically forking out double for the privilege in the most sought-after spots. 

Market town properties are typically valued 13 per cent higher than homes in the rest of their county, according to research from Halifax – but in some areas the premium is much higher. 

House prices in the top ten most expensive market towns all average more than £500,000, with Beaconsfield in Buckinghamshire topping the table for the third year running. Its average house price is £1.3million. 

Huge premiums: Buyers in market towns such as Wetherby, Alresford, Henley on Thames and Beaconsfield pay hundreds of thousands more than the average in the rest of their counties

Huge premiums: Buyers in market towns such as Wetherby, Alresford, Henley on Thames and Beaconsfield pay hundreds of thousands more than the average in the rest of their counties

There, buyers pay a huge 155 per cent or £690,000 premium compared to other homes in Buckinghamshire.

Market towns are popular with buyers because of their period properties, rural lifestyle and sense of community. 

The top three most expensive market towns remain unchanged on 2019, with Henley on Thames, Oxfordshire, (£858,772) and Alresford, Hampshire (£703,371) taking the second and third spots respectively.

But it is buyers in Wetherby that will pay the second-biggest premium, shelling out on average 98 per cent or £196,000 more for their home than elsewhere in West Yorkshire. 

What makes a market town?  

Many people think that simply having a weekly market is enough for a settlement to be classed as a market town – but that is not the case.  

The term actually dates back to the Middle Ages, and was bestowed upon towns that were granted a royal charter giving them permission to hold markets. 

They were often at the centre of the local agricultural economy, with people travelling there to buy and sell livestock and other goods. 

Housing developed around the marketplaces over time, giving us the market towns that we know today.  

Those looking for a home in Keswick in Cumbria will also need to pay nearly double (95 per cent more) for the privilege, as will those wanting to buy in Bakewell in Derbyshire (94 per cent more).

Surging house prices over the last 10 years mean that the market town premium has remained relatively constant.

All of the top five market towns have seen their premium rise compared to 2019, as buyers have moved away from cities and sought more space.

The average premium paid for a market town home has increased by nearly £3,000 since 2019. 

Some locations have seen bigger jumps in the long term, however. 

In Alresford, the market town premium has risen 42 per cent, while in Keswick it has risen 25 per cent and in Stamford, Lincolnshire 24 per cent. 

Russell Galley, managing director, Halifax, said: ‘England’s beautiful historic market towns are enduringly popular, which can bring a heavy price tag for prospective buyers, as these areas see house prices 13 per cent above their county averages, equivalent to an additional £36,116. 

‘Market towns offer so much for house buyers, including rich history, period properties, green spaces, and tourism.’   

Market prices: These towns command the highest premiums compared to the local area

Market prices: These towns command the highest premiums compared to the local area

Southern bias: All of the most expensive market towns are in the South East

Southern bias: All of the most expensive market towns are in the South East

There are some market towns where buyers can bag a bargain, many near Durham

There are some market towns where buyers can bag a bargain, many near Durham 

Where can I get a market town bargain?

All of the top 10 most expensive market towns are in the South East or South West of England, according to Halifax. 

Altrincham in Greater Manchester had been on the list, but was replaced by Lewes in East Sussex in 2020.

Midhurst (West Sussex), Hertford (Hertfordshire), Fairford (Gloucestershire), and Hungerford (Berkshire) also fell from the most expensive list, being replaced by Moreton-in-Marsh (Gloucestershire), Ringwood (Hampshire), Tenterden (Kent), and Marlborough (Wiltshire). 

Although they are still more expensive than the local average, Northern market towns can be more affordable, with several coming in below the UK’s average house price. 

‘While they might still come at a premium, many market town homes are much more affordable – like Ferryhill and Crook in County Durham where average house prices are under £150,000,’ Galley said. 

The average house price in Ferryhill, England’s least expensive market town, was £86,351 in 2020: £1,047,942 less than the average in Beaconsfield. 

Of course, those wanting to get all the benefits of a market town without the price tag could always just move in nearby.  

Galley added: ‘Anyone looking to make the most of their budget could do well to consider looking at the towns and villages near to a historic market town, which can be close enough to take advantage of all the benefits associated with these areas, whilst perhaps avoiding the premium price tag.’

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Tungsten and BC Partners launch €296m industrial JV (GB)

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Tungsten Properties have signed a transformative €296m (£250m) JV funding agreement with BC Partners. The newly formed joint venture company will target single and multi-let industrial opportunities across the UK, which will range from last-mile to big box logistics warehouses with a GDV of greater than €29.6m (£25m). Tungsten Properties will act as asset and development manager for the joint venture. With a strong conviction in the underlying occupational fundamentals of the industrial warehousing sector, the joint venture has already identified a strong pipeline to initially seed the partnership.

 

Jeff Penman, managing director, Tungsten Properties said:“This is a significant step in Tungsten’s expansion strategy to continue to deliver industrial and warehouse space to create growth, jobs and investor returns. This transformational JV agreement with BC Partners will provide reliable capital to continue delivering strategically located, environmentally friendly buildings across the UK. While there is volatility in the capital markets, both Tungsten and BC Partners believe that the industrial market’s long-term fundamentals remain strong. With a fighting fund behind us, we look forward to securing further opportunities.”

 

Laurian Douin, partner, BC Partners said: “The UK industrial and warehouse sector has strong secular fundamentals. Given Tungsten’s strong track record and like-minded approach to development, we are thrilled to partner with them to jointly invest in this asset class. The joint venture intends to deliver well-located, exceptional schemes to meet occupier demand, with a particular focus on schemes’ environmental credentials in-line with BC Partners Real Estate’s commitment to ESG.”

 

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Four homes for sale with swimming pools: With price tags from £1.1m to £190k

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Owning a property with a swimming pool might seem like one of life’s luxuries that is reserved for millionaires.

But, as our pick of homes for sale with swimming pools proves, you don’t have to have a multi-million pound property to have one.

That said, you may still need deep pockets for their upkeep, which can be costly, particularly if you want to keep your swimming pool heated to a comfortable temperature.

While water shortages and hosepipe bans are hitting the headlines, a pool that is already filled with water will not draw on resources but may be forbidden from being topped up by hosepipe in the case of a ban.

Our pick of four properties for sale with swimming pools are for various budgets, ranging from £1.1million to £190,000 (scroll down for more information about the house pictured)

Our pick of four properties for sale with swimming pools are for various budgets, ranging from £1.1million to £190,000 (scroll down for more information about the house pictured)

Here, we take a look at four swimming pools at properties for those with a range of different budgets.

At the top end is a six-bedroom house in Ramsgate, Kent. with an acre of land that includes an outdoor swimming pool. It has a price tag of £1.1million.

At the other end is three-bedroom property in Ashington, Northumberland, with an empty indoor swimming pool and an asking price of only £190,000.

Daniel Copley, of Zoopla, said: ‘With Britain currently experiencing a heatwave, it’s no surprise that homes with swimming pools are proving to be increasingly popular.

‘Whether your budget is more in the deep or shallow end, some homes with pools may be more affordable than you think.

‘While the rise in energy bills will have a very real impact on those wanting to heat a pool, at this time of year a refreshing dip may be just what’s needed.’

Four properties with swimming pools… 

1. Six-bed house, Ramsgate, £1.1m

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent, which is being sold by Miles & Barr estate agents

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent, which is being sold by Miles & Barr estate agents

The property is called Pond Cottage and it boasts a large outdoor swimming pool that has a curved slide at the side

The property is called Pond Cottage and it boasts a large outdoor swimming pool that has a curved slide at the side

Inside the property, the entertainment facilities continue - with a cinema room that has black chairs and a red carpet

Inside the property, the entertainment facilities continue – with a cinema room that has black chairs and a red carpet

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent.

It boasts more than an acre of land that includes a large outdoor swimming pool, a patio and a pool area.

The property is called Pond Cottage and it is being sold by Miles & Barr estate agents.

2. Five-bed semi-detached house, Welling, £625k

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front aspect

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front aspect

A slimline swimming pool has been added to the rear of the house and it has been covered to protect it from the elements

A slimline swimming pool has been added to the rear of the house and it has been covered to protect it from the elements

The Kent property is on the market with a price tag of £625,000 and the sale is being handled by estate agents MS Estates

The Kent property is on the market with a price tag of £625,000 and the sale is being handled by estate agents MS Estates

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front.

But a slimline swimming pool has been added to the rear of the house. It is on the market for £625,000 via MS Estates.

3. Five-bed house, Ripon, £450k

This three-bedroom house in Ripon, North Yorkshire, was once a barn and has been converted into a family home with a swimming pool

This three-bedroom house in Ripon, North Yorkshire, was once a barn and has been converted into a family home with a swimming pool

The curved shaped indoor swimming pool sits below wooden beams and has a separate bar area for entertaining

The curved shaped indoor swimming pool sits below wooden beams and has a separate bar area for entertaining

The barn conversion has a colourful interior and is on the market for £450,000 via Solo Property Management estate agents

The barn conversion has a colourful interior and is on the market for £450,000 via Solo Property Management estate agents

This three-bedroom barn conversion in Ripon, North Yorkshire, boasts an indoor swimming pool and bar area.

It is on the market with a price tag of £450,000 and the sale is being handled by Solo Property Management.

4. Three-bed house, Ashington, £190k

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools

The 1930s detached property has an indoor swimming pool that isn¿t currently being used because it has been left empty

The 1930s detached property has an indoor swimming pool that isn’t currently being used because it has been left empty

The three-bedroom property is currently for sale for £190,000 and is being sold via Rook Matthews Sayer estate agents

The three-bedroom property is currently for sale for £190,000 and is being sold via Rook Matthews Sayer estate agents

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools.

It is a 1930s detached property with an indoor swimming pool that isn’t currently being used as it is empty.

The property is for sale for a relatively cheap £190,000 and is being sold via Rook Matthews Sayer estate agents.

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Barwood Homes invests in Woodville resi scheme (GB)

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Harworth Group plc has completed the sale of an eight-acre land parcel at Woodville, Derbyshire to Barwood Homes for the delivery of 73 new houses. This represents Harworth’s first transaction with the Northampton-based housebuilder. The land parcel forms part of a 53-acre regeneration site which is owned by Beepart Ltd, part of Dyson Group, the Sheffield-based former manufacturer of industrial materials. Harworth is promoting the site on its behalf through a Planning Promotion Agreement. In April 2022, South Derbyshire District Council granted outline consent for the creation of up to 300 homes on the site, in addition to a c.30,000ft² local center with convenience retail and leisure amenities and over 150,000ft² of employment space for a range of uses.

 

The wider site has been unlocked by the delivery of Derbyshire County Council’s Woodville to Swadlincote Regeneration Route, which opened to traffic in December 2021, providing better access to Swadlincote and traffic relief in Woodville, as well as improved connectivity across the site. Preparation works will commence shortly for the next phases of residential and employment land sales at the development.

 

Ed Catchpole, Regional Director for Yorkshire & Central at Harworth, commented: “This sale is a fantastic start to the development at Woodville and we are pleased to welcome Barwood Homes to the site, who will deliver high-quality new housing for the local community. Our focus is now on bringing forward the rest of the development, utilising our extensive experience in the remediation of complex sites, including earthworks and infrastructure, to ready the remaining residential and employment land.”

 

Luke Simmons, Managing Director of Barwood Homes, added: “We are delighted to be working alongside Harworth on this exciting development. The team is looking forward to engaging with the local community as we gear up to deliver a scheme of excellent quality in design, build and service.”

 

Gavin Rosson, Managing Director of Dyson Group, added: “This first sale of a residential portion of the site is an important step in unlocking the full development potential of the whole, something we have been trying to achieve for many years. Such development will help regenerate Woodville and the surrounding area, somewhere we have had a presence since 1967 and are delighted to participate in.”

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