Country Homes Cost More Than Urban Homes in the UK
The annual report, produced by Halifax Rural Housing Review, says that prices for rural properties have increased by 35 per cent since 2001. Average rural property prices are on average £27,000 higher than urban property prices.
However, since the property market downturn started in 2007, property prices in the countryside have fallen by a total of 22 per cent and in urban areas by 23 per cent which has narrowed the gap between rural and urban housing values.
Average property prices in rural areas have increased more than urban areas in monetary terms over the past 10 years. Rural property prices rose on average from £127,146 in 2001 to £196,316 in 2011. Urban areas saw an average increase of £62,223 from £107,130 to £169,353. House prices in urban areas, however, have risen across the urban areas of the UK by 58% and in countryside areas by 54%.
Compared to house price measured to earnings ratio, properties least affordable in the rural areas are West Dorset, South Lakeland in Cumbria and Ceredigion in Wales with an average property price that is 8.0 times multiplied by the local gross annual average salary.
Those looking for new homes for sale in Lincolnshire will find rural areas the most affordable as well as new homes in Scotland, East Ayrshire which is the least expensive rural region to live in the UK.
Uttlesford in Essex is the most expensive rural local authority district in Great Britain with their local new houses for sale in Essex valued 57% above the national rural property price average, with an average house price of £307,507.
Fifteen rural areas have seen average property prices double since 2001. The largest increases during the decade were new homes in Scotland with the largest in Moray at 162% per cent, followed by Aberdeenshire with 150% and the Highlands at 143%.
Rural areas in southern England, however, have seen a lesser increase in property values, although they remain at a higher level. Property values in the rural areas of the South East grew by 40% over the decade, including new houses for sale in Kent, and by 63% in the South West.
The increase in rural property values has resulted in housing becoming less affordable for local rural buyers on average and below average incomes.
Nitesh Patel, housing economist at Halifax, said: “Living in the countryside is an aspiration for many homeowners, attracted by the prospect of a better quality of life, open space and a cleaner environment. The side effect of rising property values is that housing affordability has become an increasing concern in many rural areas, particularly in the south where in all areas those on average incomes will find it difficult to enter the market. This, in turn, is having an adverse impact on the numbers of first-time buyers in these areas.”
What House? is a leading property website that features thousands of new houses for sale in Bristol, as well as Scotland and rest of the UK. It also provides the latest property news, valuation of homes and property and mortgage advice. Over the last 30 years, What House? has held their annual What House? Awards, which are the longest established New Homes awards in the UK recognising UK house builders and developers across 23 categories.
3rd Floor, 8 Baltic Street East, London EC1Y 0UP
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Country Homes Cost More Than Urban Homes in the UK here
News-ID: 195652 • Views: 1312
More Releases from What House?
New Homes Launched in Yorkshire
Linden Homes have launched a new, completed street at one of their developments in Yorkshire. The new street is located at their St. Nicholasgate development in Beverley, East Yorkshire. The new homes consist of two, three and four bedroom family homes Located close to the town centre. A total of 130 new houses for sale have been launched and come in varying architectural designs to suit a range of buyers, including
Regeneration Project Creates 1000 New Affordable Homes
A house builder that specialises in new homes has announced plans to develop 1000 affordable homes in the East of England. Iceni Homes, based in Bury St Edmunds in Suffolk, will be building and launching affordable new homes in Cambridgeshire and Suffolk as well as affordable housing new developments in Essex. The new developments in the region form part of a £123 million programme that is partly funded by the Homes
New Homes Launched in Essex as Part of Regeneration Scheme
A home builder has launched hundreds of luxury new apartments as part of a £2 billion regeneration scheme being rolled out in Basildon. Weston Homes launched 425 new homes for sale in Essex at their Morello Quarter development located in Basildon. The properties consist of one and two bedroom apartments and are located close to the town centre. The new homes will appeal to a range of buyers including commuters, young
More Releases for House
Professional House Removalists In Brisbane For Safe House Removals
Moving and shifting can be a thoroughgoing process and many of the times we often predict that everything will fall in the right place on a moving day. The effort that is being put into moving a house whether it's a 2 room house removal or 5 plus room house removals is often overlooked until you move by yourself. There are a lot of cons of moving by yourself, for
Latest Electrical House (E-House) Market 2022 | Detailed Report
The Electrical House (E-House) research report undoubtedly meets the strategic and specific needs of the businesses and companies. The report acts as a perfect window that provides an explanation of market classification, market definition, applications, market trends, and engagement. The competitive landscape is studied here in terms of product range, strategies, and prospects of the market’s key players. Furthermore, the report offers insightful market data and information about the Electrical
Fonte Martino Guest House & Estate Named Best Guest House in Tuscany
Fonte Martino Guest House & Estate, a boutique bed and breakfast located in Montepulciano, Italy, has been named Best Guest House in Tuscany for 2021 by the Travel & Hospitality Awards. While this year has been the toughest the travel industry has ever faced, Travel & Hospitality Awards endeavor to recognize those who deserve praise and to promote the hard work of tenacious travel businesses. In this extraordinary year,
Electrical House (E-House) Industry Analysis by 2025: QY Research
QY Research indicates that the global Electrical House (E-House) market is expected to surge at a steady rate in the coming years, as economies flourish. The research report, titled [Global Electrical House (E-House) Market Report, History and Forecast 2014-2025, Breakdown Data by Companies, Key Regions, Types and Application], provides a comprehensive review of the global market. Analysts have identified the key drivers and restraints in the overall market. They have studied
Electrical House (E-House) Market Research on Technology Advancements 2018
Marketinsightsreports adds “Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Electrical House (E-House) Market 2018, Forecast to 2023” new report to its research database that gives a top to bottom investigation of the market as far as income and developing business sector patterns. The abstract includes business overview, product offering, revenue share, strategies, and service offering of the dominant players. This report covers several key areas in the
United States Electrical House (E-House) Market Report 2017-2022
Report Hive Market Research Released a New Research Report of 103 pages on Title "United States Electrical House (E-House) Market Report 2017-2022" with detailed Analysis, Forecast and Strategies. In this report, the United States Electrical House (E-House) market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this