House prices in market towns rise by £1,000 per month since 2001

House prices in market towns rise by £1,000 per month since 2001

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. Some of the biggest price rises have been seen in the north, partly due to starting off from a smaller value in 2001.

The biggest increase seen was in Stanhope, County Durham where the average price increased by 158 per cent from £57,502 to £148,264. Ferryhill, also in County Durham, recorded the second largest rise of 155 per cent.

Alford in Lincolnshire (150%), Saltburn on the north-east coast, Helston in Cornwall and Seahouses in Northumberland (all 145%) were the other market towns experiencing the biggest price rises since 2001. Helston is the only one of the ten market towns with the largest house price growth in southern England.