Private wealth 'pushes up rural house prices'

Buyers with private wealth may be responsible for above-average house prices in the countryside, as one expert notes such properties "are still affordable – perhaps not for everyone – but for a certain sector in the housing market".

Jason Beedell, head of research at property consultants Smiths Gore, may be suggesting those purchasing rural real estate as a holiday home or on a buy-to-let basis are responsible for the rise.

Yesterday (November 15th), Halifax revealed the average cost of a rustic residence has appreciated 96 per cent over the past decade, compared with a 91 per cent rise for urban counterparts.

This implies those with private wealth are well placed to take advantage of increasing values, with individuals choosing property as a form of wealth management perhaps particularly attracted to countryside dwellings.

The recent dip in real estate prices was less severe outside urban centres, with rural prices down 20 per cent between 2007 and 2009, while city-based abodes shed 25 per cent of their value.  ADNFCR-2318-ID-800238021-ADNFCR