It has been revealed in a recent report that the prices of homes in the country and in rural areas are holding better than the value of homes in urban areas during the property slump.

A survey was carried out by the Halifax recently, and the results showed that the gap between the price of rural homes and urban homes had widened by around 5 percent, and that homes in the country were now worth around 21 percent more than their urban counterparts.

Officials have said that homes in both rural and urban areas have experienced price falls during the slump, but that homes in rural areas have seen smaller price falls than homes in urban areas.

The most expensive rural area in the UK has been identified as South Oxfordshire. The average property price in this area is over £307,000, which is said to be over 50 percent more than the national average in rural areas.

One economist from the Halifax stated: ‘Homes in rural areas continue to command a marked premium over urban locations. This partly reflects the quality of life benefits that many associate with living in the in the countryside. Higher prices, together with generally lower earnings, mean that housing in rural areas remains significantly less affordable than in urban areas.’

The figures have also backed up reports that claim areas such as South Oxfordshire are becoming areas where only middle classes and upper classes can consider living, with lower income households unable to afford to move to rural areas.

Copeland in Cumbria was named as the most affordable rural area in the UK, but officials said that whilst it is an attractive area the Sellafield nuclear plant may be affecting prices in the area.

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