Premium to live in town

Britons are prepared to pay a significant premium to live in a spa town, with Matlock among the highest.

Properties in spa towns in England and Wales cost an average of 16 per cent or £38,000 more than homes across the wider county in which they are in, according to Lloyds TSB.

The group said the higher prices people were prepared to pay to live in a spa town was likely to reflect the large number of period homes and the quality of life people associate with them.

The research showed homes in Matlock are 37 per cent more expensive than the average for Derbyshire.

Nitesh Patel, housing economist at Lloyds TSB, said: “Spa towns are also often thought of as having a high quality of life, including excellent schools, lower crime rates, and lesser traffic volumes.”