Countryside Property Still In Demand But Price Growth Eases

People have been moving to the UK countryside in droves in recent years, seeking a more peaceful and idyllic life. There are many reasons for this trend, but chief among them is the desire for a slower pace of life and a disconnection from the hustle and bustle of city living. Additionally, many people find that they can get more for their money by purchasing a home in the countryside, as prices have remained relatively stable even as demand has increased. Finally, the natural beauty of rural areas continues to be a major draw for those looking to relocate.

Circumstances means the countryside appeals to many people

However, while the UK countryside has become increasingly popular in recent years, the rate of growth for countryside property prices has begun to slow. This is likely due in part to the ongoing uncertainty surrounding Brexit, as well as the general economic slowdown that has taken place since the UK voted to leave the European Union. Additionally, the Covid-19 pandemic has caused many people to reassess their housing needs, with some opting to move out of the city in order to have more space.

You also cannot overlook the cost-of-living crisis which is occurring at the moment, and for many people, there is no longer the desire or even ability to move home.

As a result, while countryside homes are still in high demand, price growth has eased in recent months.

Despite this, it is still possible to find good deals on countryside properties. In particular, those who are willing to consider homes that need some work or are located in less popular areas can find bargains. Additionally, many people are finding that they can negotiate lower prices with sellers who are keen to offload their property quickly.

We know how the countryside housing market is performing

Overall, the UK countryside continues to be a popular destination for those looking to relocate. While prices have risen in recent years, the rate of growth is slowing down, making this a more viable option for many households. With that said, it is still possible to find good deals on countryside homes, especially if you are willing to consider properties that need some work.

We are experts in this area, and if you are looking for any assistance or guidance, Prestige & Village is on hand to help you make a move in the country.

Colby Short, Co-founder and CEO of GetAgent.co.uk, commented: “The homebuyer exodus of urban areas in search of larger homes in greener surroundings has been well documented during the pandemic, with this huge influx of buyer demand in many smaller rural towns leading to some very strong rates of house price growth over the last three years. However, a return to normality over the last year, in particular, has caused this trend to subside and this is having an immediate impact on property values in market towns. Countryside house prices are starting to cool after a sustained period of heightened growth but, in the majority of cases, they remain some way above their pre-pandemic benchmark. This correction will no doubt be welcomed by homebuyers local to these areas, who are now benefiting from a slightly smaller financial barrier when it comes to the cost of climbing the ladder.”

Contact Prestige & Village for all your property market needs in 2022

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