Do you own a property in a rural area?

If so, you may be particularly interested to hear that house prices in predominantly rural areas have risen by 29% over the last five years compared to 18% in predominantly urban areas; and this gap between rural and urban has become significantly stronger in the last two years.

A recent housing market survey by Nationwide indicated that — of the people who were moving or considering moving home — 28% were choosing properties in a different area, and most of these were seeking to move from urban to rural locations. This was particularly marked in the older age group.

It may be no surprise, then, that the strongest rate of price growth has been for rural detached properties where average prices have increased by 32% in England and Wales, whilst not far behind are rural semi-detached at 29% and rural terraced houses where prices have increased by 27%.

We don’t know for certain what will happen to house prices as cost-of-living issues start to impact household budgets later this year, but it looks likely that now is a good time to put your property on the market, especially if it is located in a rural area.

If you are interested in discussing how to get the best price for your property, please contact Sarka or Rob on 01608 695252, or go to our web page www.distinctpropertyconsultants.co.uk and request an in-person valuation.  

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