According to the latest research from Lloyds Bank, average house prices in English market towns increased 21% in the past five years to an average price of £280,690, 7.9 times the average gross earnings of full-time workers across England.

Nearly seven in 10 market towns (67%) cost more than the rest of their county.

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Since 2015, house prices in market towns have increased by £6,850.  

Andrew Mason, mortgages product director at Lloyds Bank, said: "Understandably, homebuyers continue to be attracted to the charm and high quality of life offered by market towns and are typically happy to pay extra to live there.

“The most expensive market towns are found in the South East at a commutable distance from London, with many homes in Beaconsfield costing more than £1m."

Beaconsfield in Buckinghamshire – with an average house price of £1,049,659 – topped the table of the 10 most expensive market towns, followed by Henley on Thames (£831,452) and Alresford in Hampshire (£541,529).

The most affordable market towns – Ferryhill (£78,184), Crook (£115,659), both in Durham, and Immingham (£115,769) in Lincolnshire – were found in northern England.