Urban prime property prices ‘rising faster than rural areas'

Prices of prime properties in urban housing markets are rising more quickly than in surrounding rural areas, according to Savills. Locations such as York, Bristol and Winchester are also becoming more popular with downsizers trading in countryside properties. The analysis said that following the “race for space” seen since the start of the pandemic, the distribution of house price growth is starting to change, with a rebalancing of the housing market also being seen as employees return to offices. Savills' report found that annual price growth in well-connected urban markets was 7.0%, compared with 6.7% in surrounding areas - and the slowdown is driven by lower levels of price growth in markets which saw the highest level of buyer demand over the course of the pandemic, rather than price falls.

Daily Mail The Independent UK