But it’s better news for country dwellers

Homes in the British countryside have gone up in value by nearly £600 a month in the last decade to be worth £27,000 more than urban properties, Halifax said.

By The Newsroom

Published 8th Oct 2011, 07:00 BST

Its Rural Housing Review found that rural houses went up by £576 a month on average from 2001 to 2011 to reach an average of £196,316.

The South West is home to eight of the 10 priciest rural areas when compared with local earnings.

West Dorset was named as the least affordable rural area in Britain, with houses costing £256,332, eight times more than the local gross average earnings of £31,992.

Copeland in Cumbria is the most affordable, with the price of a typical house standing at £122,635, 3.3 times more than the average wage of £37,280.

Halifax said that since the housing downturn in 2007, property prices in the countryside have dropped by 22 per cent, compared with 23 per cent in built-up locations.

Halifax Cumbria