Fortunes change for rural laggards

intersect AONBs. Darrell Hughes of Jackson-Stops estate agent in Dorking in the Mole Valley said the share of buyers from outside a seven-mile radius had doubled to 60pc since last year, driven by London buyers moving down the A3.

These city leavers are also moving further afield. Previously they stayed within a few miles of the main towns of Dorking and Reigate. Now the more remote villages in the Surrey Hills, such as Abinger Hammer and Westcott, are in vogue.

“There is definitely a sense of urgency that has been compounded by the stamp duty incentive,” Mr Hughes said. Three-bedroom Victorian houses in Dorking cost £600,000, giving buyers the maximum £15,000 tax saving if they buy before the end of March. But competition is stiff. One house, which had 70 viewings and 20 bids, is under offer for a price 15pc above asking.

REGIONAL SUBURBS The pattern extends to other British cities. In St Helens, on the outskirts of Liverpool, agreed sales were up 48pc compared with last summer.

Budget buyers are mainly behind the surge. Steve Giddins of Entwistle Green estate agents said the share of first-time buyers this year had jumped from 35pc to 50pc.

Increased lending restrictions are key. It is now almost impossible to borrow with less than a 15pc deposit. This has pushed buyers to cheaper properties. The average price in St Helens is £123,000, compared with the Merseyside average of £173,000.

On the outskirts of Worcester, the Malvern Hills district is experiencing a similar surge. Agreed sales between May and July were up 28pc on 2019, according to Zoopla. But the market is being driven from the opposite end.

Kerri Stephens of Connells estate agents said lockdown and the tax break had spurred retirees to bring forward their moves to the countryside. Half of buyers are moving in from out of the area, up from 30pc last summer, she added.

‘People want to break out of the shackles. I have 22 people looking for houseboats’