The East of England is the most affordable area of the country for homebuyers seeking a rural retreat, according to new research from national estate agency, Jackson-Stops.
With post-pandemic lifestyle preferences and working patterns in a state of flux, Jackson-Stops analysed the prices of detached homes in rural and urban settings across England.
Its findings highlight four regions – the East of England, West Midlands, North West and Yorkshire & Humber – where the average sale price of a detached home is less expensive in rural escapes than in urban centres.
The study also found that nearly two in five (39%) buyers of detached homes across England have bought in rural settings over the last decade, indicating the increasing demand for country life.
The East of England is by far the most affordable for people seeking an escape to the country, with the average detached home selling for 37% less in rural areas than in urban areas (£487,483 vs. £772,396).
The price difference has increased from 34% before the pandemic, resulting from urban house prices having risen 14% in areas such as Cambridge compared with 9% in rural surroundings.
The trend gives country homebuyers in the East of England more house for their money and shows the breadth of opportunities available in the region for buyers looking for greener pastures.
Locations in the East of England that proved the most popular for buying a detached home in 2023 included Whittlesey, Watton, and Dersingham.
At the opposite end of the scale, the South West is where regional homebuyers pay the highest premium for rural homes, with an average 2023 sale price 11% higher than in urban areas (£563,786 vs. £508,006).
This is up from 8% in 2022 and a reverse of the pre-pandemic trend, with detached properties in urban parts of the South West selling for 4% more than rural properties in 2019.
However, Jackson-Stops’ analysis shows the South West has seen the biggest shift in buyer preferences over the last decade in favour of rural retreats. So far this year, 62% of people buying detached homes in the region have opted for rural locations, up from 54% in 2013.
Cornwall tops the charts for the volume of rural buyers; a position held for over a decade and well before the pandemic – a period often cited as the defining moment for rural buyers in the race for space.
Commenting on the latest figures Jackson-Stops chairman Nick Leeming says, “The East of England has grown in popularity over the last two years, home to the Cambridge-Oxford Arc as a melting pot for innovation and urban expansion.
“Whilst rural hubs around Suffolk and Norfolk have increased in demand thanks to the rise in flexible working and lifestyle trends, there remains plenty of opportunities here for buyers looking for the best of both worlds.”
