An estate agent claimed that a Bucks town's housing market is 'not affected by economic issues' amid news that the average sale price in the area is higher than in London. 

An estate agent in Marlow said the high level of demand for expensive properties is the central driver of the town's competitive housing market following news that the average house price was 200k above its London equivalent.

According to real estate company RightMove, properties in Marlow were advertised at an average price of over £900k over the past year, compared to just over £700k in London. 

Figures from the property website also showed that the average price of sold properties in the town was up by 17 per cent compared to the previous year, as of August 7, and was 24 per cent higher than the 2020 peak of nearly £800k. 

Ian Springell, Valuation Manager at Bonners & Babingtons, an estate agent located at 3 Spittal Street in Marlow, said the Thames-side town had financially benefited from the "post-pandemic exodus from London", which saw many leaving the capital city to seek greener pastures. 

He added: "We've never been affected by economic issues - a lot of rich people live in Marlow already and they tend not to be influenced by wobbles in the financial sector.

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"After the pandemic, a lot of people who had been living in apartments in London jumped in their cars and came up here because they wanted something with more space. 

"Demand drives all prices and without question, the demand for housing in Marlow is high."

Speaking in May, after the UK recorded its biggest fall in year-on-year housing prices in a decade, Philip Hamp, Sales Director at Ballards, a family-owned estate agent at Number 45 on Marlow High Street said: "This is a wonderful place to live and it's also an expensive place, so the market will naturally be stronger."

Alex Reid, Associate Director at Savills, on 36 West Street, added that although buyers had become more cautious with their spending amid the ongoing cost-of-living crisis and hike in mortgage rates, "the demand for well-priced homes in popular locations remains strong". 

“The lifestyle on offer in Marlow and surrounding areas – with good schools, lots of excellent restaurants and plenty of green space, all within close proximity of the capital – means that it’s a popular choice for families and downsizers alike.”