Lewes named as second most expensive market town in England

Lewes property SUS-150809-111119001
Lewes property SUS-150809-111119001

Lewes has been named as the second most expensive market town in England, according to Lloyds Bank.

With an average house price of £408,641, Lewes came second only to Beaconsfield in Buckinghamshire, where the average home costs a huge £997,222. Midhurst was in third with an average house price of £403,893.

Experts from Lloyds Bank compared house priced in 113 market towns across the country with those in their surrounding areas.

The study found that prices in market towns were, on average, 11 per cent more expensive than values in the surrounding areas - the equivalent of £23,938.

On average, house prices in market towns have increased by £460 every month over the last decade, the study found.

A £55,179, or 28 per cent, increase in the typical price of a property in an English market town since 2005 means a buyer will pay around £250,686 for a home.

Andy Mason, mortgages director at Lloyds Bank, said: “Homes in market towns typically command a significant premium over their neighbouring towns.

“The quality of life benefits often associated with living in such locations are still proving popular among home buyers. Market towns are often particularly attractive for those looking to move into more idyllic surroundings without sacrificing many of the important amenities they currently enjoy.”

Lloyds Bank used Land Registry figures for the study.

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