here was something curiously symbolic about the demolition of the three cooling towers at Didcot power station in July last year, reducing the giant eyesores that have loomed over the surrounding Vale of the White Horse since the mid-1960s to 36,000 tonnes of rubble. It appeared to signal the beginning of the end for the days of antiquated fossil fuel industry — space-age technology, it seemed to say, would be the future for this most beautiful slice of middle England.

The Vale of the White Horse stretches 18 miles, from the Wiltshire border to Oxford, and between the river Thames to the north and the ancient Ridgeway road on the Berkshire Downs to the south. Its name refers to the chalk horse etched into the hillside above the village of Uffington, believed to have been created about 3,000 ago. “The Vale”, as it is known, is also associated with two quintessentially English poets, Sir John Betjeman and Pam Ayres, both of whom lived here for many years.

Today, however, the area is better known for its concentration of science and technology institutions. These include the UK Atomic Energy Authority; the Rutherford Appleton Laboratory; the Diamond Light Source science facility; the Medical Research Council facilities at Harwell; the European Space Agency’s UK centre; and the Satellite Applications Catapult — none of which impinge unduly on the natural environment.

This is popular commuter country: there are four trains an hour from Didcot to London Paddington, with a journey time of about 45 minutes. The Vale is also ideally situated for business people who have to travel nationwide. The A34 joins Southampton on the south coast with the Midlands, and the M40 links London with Birmingham. Proximity to Oxford (called the “Oxford glow” by some imaginative estate agents) has a bearing on prices, as does proximity to a rail station or major road.

Abingdon is the most popular town in the area. Located on the Thames just seven miles from Oxford’s “dreaming spires”, the town is near some renowned public schools, such as Radley College.

Oxfordshire Estates, a local agent, is selling a seven-bedroom, late Victorian, semi-detached house in the town for £499,950. A similar property in north Oxford would cost more than £800,000.

Elsewhere in the Vale, Wantage, with its half-timbered inns and statue of King Alfred in the market square, has a country-town atmosphere. Yet its prices are 10 per cent lower than Abingdon’s, due to it being a nine-mile drive to Didcot rail station. Prices drop again as you move further west. Faringdon, 12 miles from Swindon, is a pretty market town but, due to its comparative inaccessibility, property prices are 15 per cent below those of Abingdon.

The market for country houses is largely driven by young families following the well-trodden path out of London. However, local agents report that buyers are reluctant to spend over the £2m mark at present.

Kingstone Lisle Park, one of the most significant estates in the Vale, has 13 bedrooms, seven bathrooms, gardens, lakes, paddocks, an outdoor pool and a private golf course. It was originally priced at £35m, but is now on the market for £22m with Knight Frank.

Farms are a different matter — selling well mainly to lifestyle buyers. “People are getting wise to the fact that they can buy a farm here for the price of a quite average house in a fashionable part of London and they are much in demand,” says Richard Binning, director of rural property for Savills in Oxford. “We advertised a farmhouse with 280 acres for offers around £2.5m last year and it very quickly sold for £3m,” he says.

Savills is marketing Field View, a five-bedroom contemporary property built of Cotswold stone in Charney Bassett, near Wantage. It is priced at £1.5m.

The Vale is dotted with traditional English villages such as Uffington, Ashbury and Blewbury. However, change is in the air. Oxfordshire has mapped out its economic strategy for the region until 2030. High-tech industries are set to expand in the Vale as it becomes part of Oxfordshire’s “knowledge spine”, linking it with Oxford and Bicester in the north, where 13,000 new homes are set to be built after the town was selected to be one of the government’s new garden cities. This will result in the county gaining about 85,000 new jobs, of which 23,000 have been earmarked for the Vale. About 20,500 new homes are due to be built in the Vale by 2031 to accommodate the expanding population. The move, however, is opposed by the Campaign to Protect Rural England. “The scale and speed of the growth means we are threatened with losing some very important greenfield sites,” says Helen Marshall, director of CPRE’s Oxfordshire branch. “It will put enormous strain on rural infrastructure and facilities, particular roads and schools. We risk spoiling the rural character that has traditionally made the Vale such a special place.”

Others, however, take a more optimistic view. “I think the Vale can absorb the new houses,” says David Milligan, of buying agency Private Property Search. “Within the next five years this area should become even more desirable as it will benefit from the electrification of the railway and the introduction of Crossrail from Reading. Being able to get into the heart of London in under an hour is sure to boost prices.”

Buying guide

● 70.3 per cent of houses in the Vale are owner-occupied, while 15.3 per cent are privately rented (Oxfordshire Strategic Housing Market Assessment)

● The average cost of privately renting a home with four or more bedrooms is £1,525 per month

● Abingdon is 64 miles from London and 85 miles from Birmingham

What you can buy for . . .

£1m A four-bedroom modern family home in a village near Didcot

£2m A four-bedroom house with two acres in a village near the Ridgeway

£3m A substantial house with 10 acres near Abingdon

Photographs: Li Kim Goh/ Getty Images; Ed Shepherd Photography