Rural real estate prices soar during pandemic
According to Coulters Property’s 2021 Rural Real Estate Report, average prices for rural properties have increased by 20.8% over the past five years and are 3.3% higher than urban areas.
Rural real estate prices increased by 6.22% from 2019 to 2020 as demand for rural housing increased during the pandemic.
“Over the past year, the number of people moving from cities to the countryside has increased, due to factors such as more green space, fresher air and a slower pace of life,” the report said.
Rank local authority 2015 2020 Five year increase1 Harborough £245,582 £328,17233.6%2 East Northamptonshire £188,598 £250,49732.8% 3 Rutland £254,328 £335,02431.7%4 Hinckley and Bosworth £181,410 £238,22031.3%5 High Peak £168,050 £218,99630.3 %5Mendip £219,217 £285,61630.3%7 Swale £202,145 £263,27130.2%7 Staffordshire Moorland £156,219 £203, 40330.2%7 Derbyshire £235,059 £305,997 30.2%10 Forest of Dean £200,227 £259,47329.6% Local areas with the biggest price increases
Property prices in Harborough, Leicestershire have increased by 33.6% over the past five years, with the average house price reaching £328,172 in 2020.
According to the report, the most expensive rural area is Waverley, Surrey, with an average house price of £473,536.
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County Durham is the most affordable place to buy property in the countryside, with an average house price of £109,980.
Average property prices, mainly in urban areas, are among the highest in the country (£302,710). However, the top 10 most expensive areas to buy a home are all in London, which is notorious for its high house prices due to high demand.
In January of this year, house prices fell for the first time in six months.
The average property price in the UK fell by 0.3% to £229,748, according to the Nationwide House Price Index.
