Move to the countryside? It might be the smartest move you can make right now.
Forget the frantic city life – while urban house prices are taking a nosedive, the countryside is proving to be a more stable bet.
New research from Yopa shows that the countryside is holding its own while city prices are tumbling. Across England’s predominantly rural areas, house prices have increased by an average of 1% over the last year. That’s £301,122 for your average home.
Meanwhile, in the nation’s urban areas, the average price tag has dropped by a shocking 2.1% to £293,646.
Don’t believe the hype about “cheap” city living!
It’s not just the average that’s down – a staggering 64% of urban areas saw prices fall last year. That’s a lot of people wishing they’d opted for the countryside!
Top performers in the rural market
Some rural areas are absolutely booming. East Cambridgeshire leads the pack with a massive 10.6% increase, while Northumberland isn’t far behind with a 7.5% jump.
Other hot spots include:
- Malvern Hills (7.1%)
- Ribble Valley (7%)
- West Devon (6.3%)
- West Oxfordshire (6%)
- East Devon (5.6%)
- Stratford-on-Avon (5%)
- Rutland (4.6%)
- South Hams (4.4%)
London is leading the city price crash
The city that never sleeps is seeing some serious slumbers in the property market. The priciest areas are seeing the biggest drops, with the City of London down 22.2% and Kensington & Chelsea down a whopping 13.6%.
Other urban areas seeing significant declines include:
- Canterbury (-12.1%)
- Epsom & Ewell (-10.5%)
- Gosport (-10.1%)
But it’s not all bad news in the city
While the general trend is downwards, there are still some urban pockets holding strong. Blaby has seen a 9.3% increase, while North East Lincolnshire and Rugby have both seen 8.3% and 7.6% growth respectively.
Why is the countryside winning?
Yopa’s National Franchise Director, Steve Anderson, has an answer: “Rural living isn’t for everyone, but it’s clear that those who choose it are rewarded with more stable property values.
“Country living is often a lifestyle choice, not just a stop-gap. People who move to the countryside tend to stay, meaning there’s less property churn and more stability in the market.”
So, if you’re looking for a safe and secure investment, the countryside might just be the place for you. Forget the city hustle – the countryside is calling!