According to a recently released report, home prices in market towns have increased by 100% over the last ten years, with Stanhope having posted the largest of them all.  The Lloyds TSB figures indicated home prices for Stanhope were an average of 57,500 pounds ten years ago.  The entire increase of 158% enabled house prices to climb to 148,264 pounds in the last decade.  Ferryhill, in County Durham as well, stands alone as being the cheapest market town to reside in, as well as boasting the second highest rise in prices.

Peter Clark, a Ferryhill estate agent, commented on the latest housing market information regarding pricing, saying: “The figures are a bit misleading. I’d say the main core of properties have been stable and in line with national trends.  Specific areas that had been neglected for many years have been cleared under government regeneration programmes.

“While these may have reflected some very cheap houses, it probably gives an unfair picture of the area as most has been redeveloped now.  There has been some new housing, along with real improvements in the town, so it has a lot going for it.”

According to the Land Registry, where the figures originated, market town home prices have been surpisingly resilient against much of the economic crisis.  Home prices have continued on a steady pace over the last ten years, rising almost 1,000 pounds per month, finishing today at an average of 233,416 pounds.

Nitesh Patel, housing economist at Lloyds TSB, commented on the unique rise in home prices in market towns across the UK, saying: “The popularity of living in market towns is clearly evident from the substantial increases in average house prices seen over the past decade.

“Many of these towns offer an attractive balance between being close to the countryside and ease of access to the road and rail networks that allow residents to commute to work.”