Fears grow of affordability crisis for young people as property prices in countryside soar by 14.2% a year
Rural house prices in England and Wales are increasing twice as fast as in cities, triggering a fresh affordability crisis for young people, with hot spots flaring up across the country from Lincolnshire to Lancashire as people seek more space post-pandemic.
Prices are rising 14.2% a year in countryside locations on average compared with less than 7% in urban areas, figures analysed by Hamptons estate agency for the Guardian show. It is compounding existing affordability problems in places such as Cornwall and Devon, but the biggest percentage increases of up to 30% were in Broxtowe in Nottinghamshire, around Lancaster, in Arun in West Sussex and Amber Valley in Derbyshire.
