The average house price in two Buckinghamshire commuter towns has reached more than double of the county’s average, latest research showed.

Recent house sales figures from the Land Registry analysed by the estate agents Savills revealed the difference in house prices in Beaconsfield and Gerrards Cross compared with the rest of Buckinghamshire.

The average house price in Beaconsfield now is £1.4m, while in Gerrards Cross it is £1.59m.

In the rest of Buckinghamshire, the average house price is £563,000. For example Prince Risborough, the average house price is just short of the county average at £520,000.

The price growth in Beaconsfield has been driven by the area’s popularity during the pandemic, Savills Beaconsfield head of residential sales Chris Moorhouse said.

He explained: “Of course the figures quoted are averages and one or two large sales can skew the numbers. They are also based on sales that were completed a few months ago, so are not necessarily reflective of the current market,” he said.

 “However, Beaconsfield has long been a popular place to live and regularly tops national polls for the UK’s most sought after market town. It has some excellent schools, fantastic restaurants and great independent retailers – all within a short commute of London. 

 “As with Gerrards Cross, the area has always been high on the list of those moving from the capital. That pattern only accelerated during the pandemic as buyers went in search of somewhere with more space, both inside and out, within close proximity of the City – leading to rapid price growth. Yet there are still some parts of the county – Princes Risborough being a good example – which share many similar characteristics and are perhaps, relatively speaking, more affordable.”

Despite the slowing impact of the rising cost of living and increasing interest rate on the market toward the end of 2022, there were signs of the housing market stabilising, Chris said.

Savills expected the average mainstream house price to drop by 10 percent in 2023, while the average house price of a prime market property – generally the top five to ten percent of the housing market by value – was predicted to fall by around six percent.

Buyers’ choices in 2023 will continue to be shaped by “the legacy of the pandemic,” Chris said.

READ MORE: Scarlet fever: number of infections drop in Bucks and Berks

He continued: “So there may well be some areas that prove more resilient, the likes of Beaconsfield and nearby towns and villages in the commuter belt for example. However we’ve already seen prices drop by around three to four per cent in the last three months of this year.”

Hopeful sellers should set a “sensible asking price” because the buyers will be clearly split between those “who need to move quickly and more discretionary buyers,” he pointed out.

“Our long term five year forecasts are more positive – we expect mainstream prices to recover and rise by 15.7 percent between 2024 and 2027 – but in the short term buyers will be far more wary of a guide price which appears on the high side,” Chris predicted.