28
Jul
Fewer people 'seeking for country lifestyle'
Fewer people are looking to buy farmland in the country, new
figures have revealed.
The latest survey from the Royal Institution of Chartered Surveyors
(RICS) on the cost of arable land has shown that farmland prices
have increased considerably in the last six months, but that
economic conditions have discouraged city buyers from entering the
market.
Julian Sayers, a spokesperson for RICS, stated that both property
investors and farmers are competing for rural land but that many
people are no longer searching for their dream home in the
country.
"The days of the lifestyle buyer are on the wane. The credit crunch
is putting an end to city expansion into the country as the
precarious financial situation has made city slickers rethink their
lifestyle priorities," he said.
Calls for the government to address the affordability of homes in
rural areas were made by the National Housing Federation last week,
as it called for improved planning in villages.