Property outside the city in the UK is more expensive than in the city

To live outside the city more expensive. Property outside the city in the UK has a significant increase in price compared to real estate in cities across the UK.

As shown by a recent study in Halifax, the price difference on average between £86218 in the South-East of England, up to £11570 in the North-East.

But if you compare the price changes for residential property in the UK in the countryside and in the cities beginning in 2009, the average price for the city has grown over 4 years at 2 %, and in UK cities average price increased by 10%.

One of the key factors of price growth in urban areas since 2009 is the rise in prices in London. If we exclude from the statistics in London, prices for residential real estate in English cities grew in 2009 by 6 %.

Also, the growth of prices in the cities was influenced by the increase in the number of first-time buyers afford housing under different programmes of the UK government. Such buyers mostly buy in urban areas.

On the contrary, during this period declined slightly, the number of people who have moved to live in the house – the type of property, which is more typical for rural areas.

The desire to live in their own house in the UK has traditionally been very high, but relatively high real estate prices outside the city, make country life unaffordable for many. Especially vulnerable in this sense, young families with low income, who turn most often for help of the government program “First to buy” . A survey from the Bank Halifax, the average house price in rural areas is equivalent to the gross average income , which the average Briton earns in 6.3 years. And to earn on real estate within the city limits, the average Briton will need 4.9 years.

In five rural real estate at a more affordable price, if you measure it in average income than in the cities. This is Copeland in Cumbria, Stiring Stirling, East Ayrshire, Western Isles – in all these places the average Briton will need a little less than 4 years to earn my residential property.

Costwold – the least accessible part of the countryside in the UK, where the average cost of housing is 9.4 gross annual earnings. And 6 of the 10 least affordable rural areas in the UK located in the South-West.

The most expensive suburban property in the UK in Chiltern, its average price is £407012, and the cheapest in East Ayrshire where the average price is 4 times cheaper – about £100119.

® Alice Morgan 23.10.2013 g.

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