Taylor Scott International News
Family homes in quintessential county towns in England have seen prices rise more than seven times the national average in key regional locations, according to new research. Warwick has seen the highest price growth for five plus bedroom homes in the past 12 months with York, Hertford, Bristol, Gloucester, Exeter, Chelmsford, Shrewsbury, Chester and Northampton making up the top 10. Overall, average growth for the top 10 markets in five bedroom homes was 27.68%, the study from national estate agents Jackson-Stops & Staff which has 44 offices across the country. In Warwick prices for five bedroom family homes rose from £519,129 to £799,777 in the past 12 months with York, Hertford, Bristol, Gloucester and Exeter showing 33.9%, 33.8%, 33.6%, 29.6% and 27.7% growth respectively. The report says that these towns highlight a strong geographical spread across the UK and show the strength of the town market away from London and the Home Counties. Whilst these towns have performed strongly in the family home market, it is Exeter, Bristol and York which have seen the highest levels of price growth across all property types. Exeter with price growth of 23.2% in the past year, more than three times the national average, with Bristol and York also performing extremely strongly. Indeed, saw growth of 22.6% with the average property taking just 46 days to sell whilst York had growth of 19.9%, featuring in the top 10 markets for nearly all property types. Aylesbury, Maidstone, Brentford, Huntingdon, Reading, Cambridge and Oxford make up the top 10 performing markets across all property types. However, when analysing price, the commuter hubs continue to outperform the rest of the country. Brentford, Guildford and Cambridge are the most expensive county towns in the country across all property types with average asking prices currently in excess of £600,000. Of all 41 county towns analysed just 11 reported price deflation in the past 12 months, four of which was 0.7% or less, further highlighting the strength of the markets in these regional hubs. With the majority of county towns recording above average growth it is hoped that this will have a ripple effect to the rest of the region. Offering a huge variety of amenities, cultural activities as well as the best services and infrastructure, county towns are popular choices amongst property buyers, particularly those with children looking for large family homes, according to the report. It adds that as the second generation become more independent and want to socialise with their friends, parents are increasingly looking for a home within a regional centre in order to satisfy their offspring’s demand to be more self-sufficient. In regions outside of the London catchment, county towns provide the perfect compromise. ‘County towns have for centuries formed a central hub for the communities in the surrounding smaller towns and hamlets,’ said Nicholas Leeming, chairman of Jackson-Stops & Staff. ‘As such, these regional centres typically benefit from excellent transport links and continue to offer the best infrastructure, schools,… Taylor Scott International
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