Urban house price growth revealed

Published on

city-flat-design-plan

PrimeLocation.com has reported that asking prices for properties in urban areas have risen much faster than those for rural properties over the past 12 months.

The average asking price of homes currently on the market for sale in towns and cities across England has gone up by 12.9% over the last 12 months compared to an increase of only 8.3% for properties in the countryside over the same period.

The average price currently being sought for a rural retreat is £304,620, which is £36,470 (11%) less than the average urban pad which is currently on the market for £341,090.

Country properties have seen the biggest rise in value over the past year in the North West with asking prices up 17.5%, However, asking prices for properties outside of urban areas in the South East having risen only a modest 2.7% since January 2013. Urban property asking prices in the South East, however, have risen sharply up 10.8% compared to last year.

Lawrence Hall of PrimeLocation.com, said: “Urban areas have been boosted by the strengthening economic recovery and growing jobs numbers. And this boost is driving up demand and pricing for properties in towns and cities across England.

“We’re seeing similar, albeit slightly slower, growth in property prices in rural areas thanks to increased demand as buyers seek out more affordable options. However, anyone looking for a country retreat at a good price might be wise to act now before prices rise even further.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Seven out of 10 homebuyers likely to miss stamp duty deadline

Seven out of 10 (71%) homebuyers with accepted offers expect to miss the 31st...

First-time buyer mortgage sales declined in London over the past decade

First-time buyer mortgage sales in London declined significantly between 2013 and 2023, as increasing...

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...

International demand for UK property investment ‘more diverse than expected’

The UK property market is attracting investment from a much broader range of international...

Other news

Seven out of 10 homebuyers likely to miss stamp duty deadline

Seven out of 10 (71%) homebuyers with accepted offers expect to miss the 31st...

First-time buyer mortgage sales declined in London over the past decade

First-time buyer mortgage sales in London declined significantly between 2013 and 2023, as increasing...

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...