Spa town properties 'above county average'

by Sarah Ashcroft

Those attempting DIY house selling in spa towns should be putting up an asking price of around 16 per cent higher than the county average, new figures have shown.

According to Lloyds TSB, a house in such areas sells for approximately £38,000 more than elsewhere, although in some regions this figure is much higher.

For example, houses in Boston Spa are 98 per cent higher than in neighbouring towns, while properties in Ilkley can be expected to fetch 97 per cent more than surrounding areas.

Nitesh Patel, housing economist at Lloyds TSB, commented: "Spa towns tend to have a larger stock of period architecture, such as Georgian or Regency, which are often larger and command higher prices."

Recent figures from the Council of Mortgage Lenders show that in January, there was a significant fall in house buying lending.

Between December and January, the number of approvals declined by 26 per cent.

  • Property News from Lawpack: buying or selling your own house? Straight-forward advice on DIY conveyancing.

Published on: March 14, 2011

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