Move to the country property trend fading – Zoopla…

Property prices in areas of the Yorkshire Dales, the Derbyshire Dales, North Norfolk, and the Cotswolds all shot up.

In recent months, the partial return to the office and the soaring cost of living caused the picture to change for many people.

Chris Druce, senior research analyst at estate agent Knight Frank, said: “After a frenetic period for the country market, city living has come back strongly as workers have returned to the office, and the lifting of pandemic restrictions has boosted the appeal of urban living.”

Zoopla’s research suggested that places such as Bradford, Swindon, Coventry, Crewe, Southend and Milton Keynes were seeing above-average demand for homes.

Another UK property portal, Rightmove, said that London was cementing its position again as the area which is most searched by users.

During various months last year, Cornwall had overtaken the city as the subject of most searches.

However, this year, London – which has the biggest population – was clearly at the top and had stretched its lead. Cornwall remained in second on the list, followed by Devon, Bristol and Glasgow, Rightmove said.

House price predictions

Ultimately, 2023 is expected to see falling prices and fewer transactions, according to analysts.

The Nationwide Building Society said that squeezed incomes and economic upheaval would have a significant impact on the housing market.

“But there is still a good chance that we can achieve a relatively soft landing next year with activity stabilising modestly below pre-pandemic levels and house prices edging lower,” its chief economist, Robert Gardner, said.

Iain McKenzie, chief executive of The Guild of Property Professionals, said: “The overall picture remains mixed as we finish the year as house prices are expected to fall, but that readjustment could spur demand as buyers search for a good deal.”