Urban asking prices now stand at an average of £315,170, up from £309,280 a year ago, according to the latest research from PrimeLocation. But rural asking prices are now £272,180 on average, down from £286,890 this time last year.
Over the past 12 months, country property prices have fallen hardest in the North East, down 11.3% and the South West, down 10%, the data from the property firm shows, taking average asking prices in these two regions to £180,760 and £272,480 respectively.
Rural prices also fell 5.5% in the East Midlands to an average of £234,280, by 5.1% in the North West to £322,930 and by 3.7% in Yorkshire and Humber to £238,700.
But average asking prices rose in some country areas. They increased by 2.2% in the South East to £391,560, by 1.3% in the East to £275,440 and by 1% in the West Midlands to £261,700.
In urban areas prices have increased the most in London, up by 12.2% to £680,520, followed by the West Midlands with a rise of 7.9% to an average of £225,680. They also increased by 3.2% in the South East to £326,760 and by 0.2% in the North East to £181,820.
Prices remained static in towns in Yorkshire and Humberside at £200,180 and fell in the rest of the country. They were down the most in the East where average asking prices fell by 11.6% to £335,470.
Average asking prices also fell by 6% in towns in the South West to £265,250, by 5.3% in the North West to £187,750 and by 1.8% in the East Midlands to £176,230.
‘While country houses in the South East have seen their prices increase, fuelled by those looking to escape city life, on the whole the rural property market has been struggling with an overall decline in asking prices of over 5% from last year,’ said Lawrence Hall of PrimeLocation.
He predicts that some this recent decline may create the perfect opportunity for those interested in moving to a rural area to make the leap from town to country.
