Rural House Prices Beat Urban Growth in ‘Race for Space’

A recent housing market analysis has found that UK rural property growth was 5 percent higher than in urban areas. According to a market report by Nationwide Building Society, property value in rural areas has risen by up to 22 percent over the past five years, compared to a 17 percent increase in urban areas over the same time period. Andrew Harvey, Nationwide’s senior economist, said, “Our latest analysis suggests that average house price growth in local authorities classified as predominately rural has continued to outpace those of other areas.” “Average prices in predominately rural areas increased by 22 percent, compared with 17 percent in predominately urban areas. Local authorities classified as ‘urban with significant rural’ saw price growth of 19 percent over the same period,” added Mr. Harvey....