As the lockdown begins to ease, we can all begin to breathe a sigh of relief as restrictions are gradually lifted and movement across the UK is again within our grasp.
Naturally, there has been a growing trend, particularly among city dwellers with restricted access to open space, to look at moving to the country. The promise of a rural existence has led to a frenzy of activity to purchase property from people looking for more inside and outside space.

Evidence of people moving out of cities to towns and villages is one of a number of reasons for house price rises in rural areas, according to the Resolution Trust, an independent think-tank. It claims that property values in less densely populated areas have risen almost twice as fast as in cities and towns. Their survey reports that since February 2020 prices have gone up by more than 10% in the country, compared to 6% for urban areas.

The government’s implementation of a stamp duty holiday allied to a mortgage sector awash with funds and rock bottom rates of interest, have also been significant drivers behind the boom in house sales, particularly in country areas such as Cornwall.

At the same time, the popularity of flats has also fallen along with that of smaller properties. The pandemic showed that those homeowners and tenants of larger properties benefitted from having more space indoors and in many cases the extra luxury of a garden, which has been shown to be of great benefit both physically and mentally during the lockdown.

In fact, according to the Resolution Foundation, one in five children in low income households spent the first lockdown in overcrowded accommodation, with overcrowding affecting all age groups more than they were twenty years ago.

Having looked at the triggers for this exodus, a necessary question is whether you are tempted to join in and start looking for property in the country?

If you are thinking of a move to the country,
give us a call to find out how much you can borrow.
Your Expert Mortgage Advisers 01473 213312