So­ci­ety de­tails ru­ral pre­mium

Yorkshire Post - Property - - PROPERTY -

THERE is a ru­ral pre­mium for homes in the coun­try, ac­cord­ing to the Halifax.

The pre­mium ex­ists in all re­gions, rang­ing from £86,218 in the South East to £11,570 in the North East. In York­shire, ru­ral prop­er­ties are £48,000 or 38 per cent higher than their town and city coun­ter­parts.

How­ever, house prices have un­der­per­formed those in ur­ban ar­eas over the past four years with the av­er­age price of a coun­try home ris­ing by two per cent com­pared with an av­er­age 10 per cent in ur­ban ar­eas.

Martin El­lis, hous­ing econ­o­mist at Halifax, says: “Coun­try liv­ing re­mains a wide­spread as­pi­ra­tion, but rel­a­tively high prices put ru­ral homes out of reach for many.”

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