20 Aug 2020
According to a report from Rightmove, the value of house prices in one particular British town have been surging at the fastest rate across the UK.
House prices in Shropshire have climbed 6.3% over the past year, with the average price of home standing at a record high of £243,260.
This trend could be driven by the coronavirus pandemic, as Brits are increasingly looking to move away from city life and are searching for country properties following months of lockdown.
Rightmove’s property expert Miles Shipside said: “The lure of a new lifestyle, one that is quieter and has an abundance of beautiful countryside and more outdoor space, has led to more city dwellers choosing to become rural residents.
“We saw a shift as early as April in more people living in cities inquiring about moving out of that city, and this trend has continued.
“The most popular village moves are still within the same region the home hunters are currently in, as it’s likely they’ll keep their current job but may have the flexibility to commute less often and set up their working space at home.”
An estate agent speaking to the Shropshire Star said: "The generic properties (in the area), things like three-bedroom properties, are flying out the doors."
Will Walker-Evans, of Nick Tart estate agents, added: "I think the stamp duty incentive is driving the market, I think a lot of people are looking to buy properties before that ends in March.
"I would say the built-up areas are doing well, places like Priorslee, but it depends a lot on the type of property.
"Anything up to £200,000-£250,000 does well, the first-time buyer market is doing well now that 90 percent mortgages are back.”