Good News For Country Home Owners

Recent reports show that properties located in pretty country locations have increased much more in price than properties in other locations

. Houses in some of the most beautiful parts of England have shown an increase of over 100,000 or around 900 a month over the last ten years. There are thirty-two areas of outstanding natural beauty in England and the average property price in these areas has risen by a staggering 87% over the last ten years, despite the current recession. This is three times the increase in the national average wage over the same period and now means that the average house price in these beautiful areas is now 7 times more than the annual earnings. An area of outstanding natural beauty is given the status for having a landscape which is very distinctive in character and who's beauty mean it is in the nation's interests to safeguard and protect them. Lloyds TSB carried out a survey of house prices in these 32 regions and reported that in five of these regions, houses prices had doubled in a decade. The largest increase was in Cumbria, along the Solway Coast, where house prices had risen 124.5% in the last 10 years. The Northumberland coast was not far behind with a house price rise of 123.8% over the last ten years. The Kent Downs has seen a rise of 115% and the forest of Bowland in Lancashire, also in the north of England, has seen a 107% increase. Properties in southern areas of beauty showed lower increases with Dedham Vale in Suffolk only recording a 61% increase and the North Wessex Downs a 66% increase. But property in the South in areas of natural beauty was some of the most expensive in any case with the average house in Surrey Hills costing just over 400,000 and property in the Kent Downs being 320,000 on average. While property prices may have increased more in the north in these specified areas of beauty, the actual average house price there is still far lower than in the south of England. An average house n the Forest of Bowland would only fetch around 212,000 and the Lincolnshire Wolds only 128,000. If you wish to live in an area of outstanding beauty in England then you need to fork out on average an additional 15,000 to buy a property. Property in these areas sells for around 50% more than similar properties in the same region but not within the actual designated beauty area. Lloyds TSB said that the higher house prices associated with living in an area of outstanding natural beauty reflected the quality of life of living in these areas and the additional benefits that came with being in a beauty spot. But the fact that house prices were now so much higher than average annual earnings, meant that many of these properties were out of reach of many living and working in these areas. For more information on mortgages visit WhatHouse Mortgages, where you can free independent advice.

by: devid69

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