Rural properties 'command marked premium over urban homes'

Rural properties 'command marked premium over urban homes'Houses located in rural parts of Britain have shown some resiliency in the face of the overall decline in property values seen in the past year, Halifax reveals.

Figures released by the bank in its latest Rural Housing Review study reveal that the typical countryside property price has fallen 13 per cent over the past 12 months to stand at £203,535.

Homes in urban areas, meanwhile, have noted a decline of 18 per cent.

The price gap between countryside and metropolitan properties currently stands at 21 per cent, up from the 15 per cent difference seen this time last year.

Suren Thiru, economist for Halifax, states: "Homes in rural areas continue to command a marked premium over urban locations, partly reflecting the quality of life benefits that many people associate with living in the countryside."

Regardless of where they live, those homeowners looking to boost the value of their property may want to consider tackling DIY projects.

Getting to grips with home improvements for this purpose could be advisable as the bank revealed the average UK property rose 0.8 per cent in value last month to stand at £160,973.ADNFCR-2244-ID-19358949-ADNFCR

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