Spa town ranks in top two in North

Boston Spa is renowned for its wonderful Georgian architecture and this attached image is a perfect example of an elegant Georgian family home arranged on four floors in the heart of the village. Price �750,000. For sale with Beadnall and Copley in Wetherby
Boston Spa is renowned for its wonderful Georgian architecture and this attached image is a perfect example of an elegant Georgian family home arranged on four floors in the heart of the village. Price �750,000. For sale with Beadnall and Copley in Wetherby
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Boston Spa is the second most expensive spa town outside of the south of England for home buyers.

The figures were released by Lloyds TSB, which reported that house prices in spa towns in England and Wales are about 27 per cent or £48,123 more than those in their counties generally, averaging £275,397 last year.

Andrew Beadnall, of Wetherby and Harrogate based independent estate agent Beadnall and Copley, said he was not surprised by the results of the report.

“It doesn’t surprise me at all,” he said.

“Out of all the areas we cover, Boston Spa remains, if not the most, certainly on of the most resilient of villages in terms of price.

“Over the last four years, since the downturn in the property market, it is the one area that remains popular.”

He added that factors drawing people to Boston Spa included its easy access to road and rail networks linking to Leeds and York, excellent local facilities, beautiful Georgian houses and a buoyant community.

“Boston Spa has something for everyone.

“There are reasonably priced properties to georgeous big Georgian ones.

“Boston Spa is renowned for its wonderful Georgian architecture.”

Suren Thiru, housing economist at Lloyds TSB, said: “Homes in spa towns continue to command a substantial premium over their neighbouring areas with the quality of life benefits and sense of history that typically characterise such locations still resonating amongst homebuyers.

“However, as a consequence of rising property prices, housing market conditions in spa towns have become tougher over the past decade, particularly for those looking to get on the property ladder for the first time.”

Homebuyers living in spa towns typically pay £50,000 more for a property than those buying a house in other parts of the county.

Ilkley was named as the most expensive spa town outside southern England with average house prices of nearly £300,000.

Boston Spa came in second place with an 85 per cent premium, while Bath was in third place with buyers paying just over 50 per cent more than the county average.

Prices in spa towns have climbed by £1,077 a month typically and nearly £130,000 overall since 2001, a total figure 12 per cent higher than the average monetary increase.

The hikes mean that homes in spa towns now cost 8.3 times gross annual earnings, up from six times earnings in 2001.

Nine out of 10 homes in these towns were found to command higher prices than in neighbouring locations, with Ilkley boasting the highest premium.

Prices in spa towns have increased by 88 per cent over the last decade, although house prices across England and Wales have gone up at a higher rate of 99 per cent.

House prices in Boston Spa average £277,584.

Nationally, the spa town average property price is £275,397, while the average in a normal town in England and Wales is £232,385.