Country houses 'more expensive than urban dwellings'

Posted: 04 Oct 2011 15:59:55 GMT

Rural properties have a £27,000 premium over urban spots, it has been found.

Houses located in the countryside are generally more expensive than dwellings situated in urban centres, new research has shown.

According to the latest annual Halifax Rural Housing Review, rural properties have a £27,000 premium over more built-up places - a rise of 35 per cent on the £20,000 recorded in 2001.

In addition, the prices of countryside abodes have escalated by an average of £69,170 over the last decade, swelling from £127,146 to £196,316.

Housing economist at Halifax Nitesh Patel 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 expert noted rising values have made it increasingly difficult for people to afford entry into the property market, especially in the south.

Recently, the organisation revealed house prices in major cities across the UK had reached a record high, with accommodation in urban conurbations often being higher than the county average.
 

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