Harborough becomes a housing ‘hot spot’

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Market Harborough has become a house price ‘hot spot’, with prices rising faster than the surrounding towns.

But the higher prices - especially when compared to neighbouring towns - are not putting people off buying, estate agents insist.

The result is that detached houses in the town sold for an average £335,000 in the last 12 months.

That’s 12 per cent higher than Lutterworth, 20 per cent higher than Leicester, 37 per cent higher than Desborough and 44 per cent higher than Corby, according to the website Rightmove.

Semis in Market Harborough cost an average £228,000.

That’s 24 per cent higher than Lutterworth, 30 per cent higher than Leicester, 46 per cent higher than Desborough and a huge 60 per cent higher than Corby.

Terraced house prices in Market Harborough average a hefty £199,000, boosted by large three-bedroom terraced houses in the older parts of town.

Rightmove says that’s 20 per cent higher than the average price in Lutterworth, 39 per cent higher than Leicester, 50 per cent higher than Desborough and 55 per cent higher than Corby.

You’d think that would mean that housebuyers would ignore Market Harborough and settle in cheaper towns nearby.

But that isn’t happening, estate agents say.

The truth is that buyers still think that Market Harborough is worth the extra money.

“Yes, the gap keeps widening, but people are still buying,” said David Hulatt, director at Henderson Connellan.

“Put simply, it’s just a nice place to be. The schools are good - public and private - and you can walk into pleasant town for a drink or a meal.”

“It’s one of the nicest market towns in the county and probably further afield,” said Peter Buckingham, director at Andrew Granger.

“It’s a safe town and the shops are fantastic.”

Prices are kept high because well-off older people stay in their big homes, parents help children buy in to the town, and London people still pour in looking for bargains and a do-able commute.