28 Jul

Fewer people 'seeking for country lifestyle'

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.ADNFCR-1222-ID-18703990-ADNFCR

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