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Asking prices: up in urban areas, down in rural ones

Alex Johnson

0b0d38e0d6bd67e29a3fe3c2c6bc4d0c4306c26e 300x200 Asking prices: up in urban areas, down in rural onesThe average asking price of properties for sale in urban areas in England is up 1.9% on this time last year, while asking prices for properties in the country are down 5.1% over the same period, according to new research from PrimeLocation.com.

Urban asking prices are £315,170 on average, up from £309,280 one year ago while rural asking prices are now £272,180 on average, down from £286,890 this time in 2012.

Over the past 12 months, country property prices have fallen hardest in the North East (down 11.3%) and the South West (down 10%) while in the South East rural asking prices are up 2.2%. Asking prices in urban areas have gone up by the largest amount since this time last year in London (12.2%), followed by the West Midlands (up 7.9%).

“While country houses in the South East have seen their prices increase, fuelled by those looking to escape city life, on the whole the rural property market has been struggling with an overall decline in asking prices of over 5% from last year,” said Lawrence Hall of Primelocation.com. “Of course, for some this recent decline may create the perfect opportunity to make the leap from town to country.”

REGIONAL BREAKDOWN:  ASKING PRICE CHANGES

Region Avg. Urban Asking Price 1 year Change Avg. Rural Asking Price 1 year change
South East £326,760 3.2% £391,560 2.2%
East of England £335,470 -11.6% £275,440 1.3%
West Midlands £225,680 7.9% £261,700 1.0%
Yorkshire & The Humber £200,180 0.0% £238,700 -3.7%
North West £187,750 -5.3% £322,930 -5.1%
East Midlands £176,230 -1.8% £234,280 -5.5%
South West £265,250 -6.0% £272,480 -10.0%
North East £181,820 0.2% £180,760 -11.3%
London £680,520 12.2% N/A N/A

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