Residential conveyancing news: Country house prices have doubled in a decade

Posted 15/11/2010

Property hunters looking to explore the rural housing market face paying 96 per cent more for their homes than they did ten years ago.

Research by Halifax showed that the £102,722 increase has made countryside homes less obtainable than those in urban areas.

However, the statistics indicated that house prices in towns and cities had also increased by 91 per cent in the past decade.

With the latest figures in mind, house hunters looking for a rural home must pay 20 per cent more than if they were to move to built-up areas.

This premium has gone up by three per cent since 2000.

Housing economist at the Halifax Suren Thiru said: “With the lifestyle benefits associated with living in the countryside still resonating with homebuyers, rural properties continue to trade at a significant premium to homes in urban areas.”

Despite the significant rise highlighted by the figures, statistics released by Rightmove have suggested that property prices are at their lowest since 2007, as prices fell by 3.2 per cent this month.