Countryside house prices hit four-year high in 'race for space'

The Guardian reports that record demand for countryside houses has driven prices to a four-year high. Prices for rural houses, including cottages, farm houses and manor houses, rose two per cent in the three months to September from the previous quarter, as the number of offers accepted outside London hit an all-time record

With working from home becoming a long-term reality for many office workers in the wake of the pandemic, those who can afford to do so have been moving out of London and other big cities into more rural areas in search of larger houses.

The stamp duty cut announced in July has also fuelled demand. In the West Midlands for example, the report states that prices for houses in the countryside rose by 3.7 per cent on the quarter, while north Surrey recorded a 3.1 per cent price rise.

Whilst property prices are on the rise in commuter towns, rents for flats in cities are comparatively ‘sharply down’.

Offers for houses accepted outside London were still at an all-time high in the second week of October, suggesting exchanges would continue to rise in the run-up to Christmas as people continue to look for more space in the countryside.

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The Guardian - UK country house prices hit four-year high in 'race for space'