Prices affected by standard of living

Posted: 17 Oct 2007 10:55:30 GMT

The standard of living in an area has a direct link to the average price of a property in that region.

The standard of living in an area has a direct link to the average price of a property in that region.

That is according to Halifax Estate Agents, which says that properties trade at an average 30 per cent premium in towns with a good standard of living.

A report by the firm ranks Wokingham, Berkshire, as the town in the UK with the best standard of living, with properties trading at a 16 per cent premium.

"People living in Wokingham have the best quality of life in Great Britain. They tend to be healthy, live in larger houses and have relatively high earnings. Wokingham also has good school results and the weather is better than average," commented Halifax chief group economist Martin Ellis.

"However, living in Wokingham comes at a price with house prices £45,000 above the average for the south-east," he continued.

According to the report, 27 of the 30 local authorities with a high standard of living have inflated house prices but the firm also revealed which regions offer good value for money.

"Fareham, Bracknell Forrest and Aylesbury Vale are three areas that have a high quality of life combined with lower than average house prices, therefore offering good value for money housing," added Mr Ellis.

The Halifax report rated regions on health, education, standard of housing, crime, carbon emissions and earnings, amongst other factors.

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