Asking prices: up in urban areas, down in rural ones
The 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|
|East of England||£335,470||-11.6%||£275,440||1.3%|
|Yorkshire & The Humber||£200,180||0.0%||£238,700||-3.7%|
Latest from Independent journalists on Twitter