Beaconsfield has been named the most expensive market town to live in in England.

Home buyers in the town can expect to pay a hefty premium – 158 per cent or £644,995 above the Buckinghamshire county average of £408,980.

With a typical price tag of more than £1 million, homes in Beaconsfield, with the countryside of the Chilterns on its doorstep and London also close by, are the most expensive of all the market towns looked at by Halifax in its report.

The report also found that house prices in market towns are £41,633 – or 17 per cent – higher on average than they are in their surrounding county.

Such is the appeal of market towns that, over the past five years, house prices in these areas have increased by an average of £915 per month, Halifax said.

The average house price in a market town in England is £290,775 – £54,908 higher than in 2013 when it was £235,867.

Andrew Mason, mortgages product director at Lloyds Bank, said: “With house prices rising by almost £1,000 a month in the most popular market towns over the past five years, the value put on quality of life and curbside appeal is clear.

“Home buyers continue to be attracted to towns on the commuter belt into London and are prepared to pay extra to live there.

“For home buyers who are looking for market charm, but not necessarily needing to commute to London, the most affordable towns reside in Yorkshire, Lincolnshire and the north.”