Rural prices rising faster than towns
RURAL house prices have slightly outperformed those in urban areas since 2007, according to latest research from the Halifax. In the past five years, the average price of a countryside home has fallen by 20 per cent compared to 22 per cent in urban areas. With an average price of £201,191, properties in rural areas are now worth 17 per cent more than its urban equivalent.
House price increases cause challenges for first-time buyers.
Martin Ellis, housing economist at Halifax, says: “Country living is an aspiration for many Britons.
“The fresh air, the scenery and the slower pace all add to the attraction but this has its drawbacks. For many of those tempted, the high prices put rural homes out of their reach.”