The pandemic has led some people to move to more rural locations. The annual price rise recorded in the South West of England in September was double the level seen in the region the previous month.
People are moving into the South West
It might help the high street:
But it might also make it even more expensive to live in these parts.
The Rural Services Network has covered the issue:
HOUSE PRICES RISE AS COVID-19 SPARKS RURAL RELOCATION
The BBC and Independent have reported that house prices in the South West of England have risen the fastest in the country in the last year as homeowners have sought to purchase properties away from big cities due to the pandemic
As demand has shifted, rents in London fell for the eighth consecutive month while the North and South West of England recorded the biggest gains at 5.9 per cent for the year.
The pandemic has led some people to move to more rural locations, with detached homes rose in price by 6.7 per cent in a year. The annual price rise recorded in the South West of England in September was also double the level seen in the region the previous month.
The reports state that the opportunity to work from home has meant that tenants can save while paying less rent in more rural areas, and as a result, the gap between rents in cities and the countryside is closing.
Property Wire – Demand for homes in rural areas rises due to the pandemic
Meanwhile, earlier this week, Devon Live looked at the housing market in the county:
House prices doubled in a year in one Devon neighbourhood
… the number one spot for the fastest growth in property value in the whole of England and Wales was in North Devon, where Ilfracombe West has seen property prices increase faster than anywhere else in the country.
House prices in the ward still don’t come anywhere near the most expensive in Devon – which can be found in West Hill & Aylesbeare in East Devon