Society details rural premium
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.”