Key facts
- England's country-house market experienced a boom during the pandemic as people moved from cities.
- Prime rural prices are now declining.
- Global instability, the rising cost of living, and the return of workers to offices are contributing factors to the price decline.
England's country-house market experienced a significant boom during the COVID-19 pandemic as urban dwellers sought more space and a change of scenery. However, this trend has reversed, with prime rural property prices now on the decline.
The downturn is attributed to a confluence of factors, including broader global economic instability, the increasing cost of living which impacts affordability, and the ongoing return of workers to their offices, reducing the demand for remote living.
This shift marks a notable change from the pandemic-era surge in demand for rural properties.