Rural growth catches up with cities

Sarah Davidson

March 13, 2015

Research from Zoopla has revealed that the average value of rural homes in England now stands at £264,338, £51,737 (24%) higher than the typical urban property outside of London.

Buyers pay the greatest premiums to live in the countryside in the West Midlands, where country homes cost £73,982 more than homes in towns and cities.

Lawrence Hall, head of communications at Zoopla, said: “Urban areas had a head start in the housing recovery with demand propped up predominantly by employment opportunities.

“This drove price growth in these economic hubs and left countryside markets by the wayside.

“Over the past year house price growth has spread and rural retreats which are commutable to the amenities and jobs of urban centres have become highly sought after.

“Those looking for the good life in the country might want to escape the rat race sooner rather than later.”

Rural homes in the East of England and the South East saw the biggest increases over the past year, as prices rose by 6.5% (£17,098) and 6% (£22,157) respectively.

City homes in the East of England and the South East experienced the strongest annual growth of 7.5% and 6.7%, outpacing the London market.

But the most expensive urban location across the country is in Kensington and Chelsea in the capital, as typical homes cost 2,654,512.

Gerrards Cross in Buckinghamshire is the most expensive rural location England, with average homes currently worth £817,376, up from £773,726 a year ago.

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