Countryside house prices are higher

Property prices in rural areas are 15 per cent higher on average than their urban counterparts, according to research by a leading lender.

Mortgage provider Halifax found that the average house price in rural Britain is £235,234 compared with £204,290 for an urban dwelling.

Of the 123 local authorities studied by the bank, the top ten most expensive rural areas were in the south of England – with the priciest place to buy in Britain being Chiltern in Buckinghamshire, which has an average house price of almost £450,000.

Suren Thiru, economist at Halifax, said: "Housing in rural areas is less affordable than in urban areas due to a combination of higher average prices and lower average earnings.

"The difficulties for home buyers in rural locations are particularly acute among first-time buyers."

People looking for a mortgage will have to borrow on average 7.3 times their salary for a property in the country.

Meanwhile, according to the Financial Times, house prices in England and Wales are falling at their fastest rate in 16 years.

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