A South Bucks town has been revealed as the most expensive English market town, with homes selling at more than £500,000 above the county average.

Research recently completed by Lloyd’s Bank showed Beaconsfield was one of the most affluent market towns across England.

Every Tuesday, market stall holders set-up and sell their products in the Old Town which usually proves a hit with residents and visitors.

There is also a Beaconsfield Farmers Market held on the fourth Saturday or every month.

The evidence in the company’s research proved Beaconsfield was the most expensive with an average house price of £822,753.

It also showed two out of three market towns in England have an average house price that is above their county average.

Beaconsfield, which is close to the Chiltern Hills and within the London commuter belt, has the largest house price premium with homes trading at 156 per cent - about £501,648 - above the county average.

Andy Hulme, mortgages director at Lloyds Bank, said: “Market towns are important hubs of social interaction and cohesion, as well as providers of employment and support for local business.

“Market towns are also, in most cases, very attractive places to live. “This is reflected in the majority of market towns having higher property prices than their surrounding counties – a premium that increased in the past decade.

“Home buyers continue to be attracted to the high quality of life, architecture, history, setting and community spirit offered by market towns and are prepared to pay a premium to live there.”

In the list of highest average house prices in a market town Beaconsfield is more than £420,000 ahead of second-placed Petersfield and they also came ahead of Lewes in Sussex and Chipping Norton in Oxfordshire.

Lloyd’s Bank has also suggested Beaconsfield has been the best performing market town across the country in the last five years.

According to their research the average house prices in Beaconsfield has increased by 37 per cent from £600,160 in 2009.