Independent Financial Life Planners Bishop's Stortford: Town or Country?

Monday, 17 November 2014

Town or Country?

As experienced mortgage brokers in Bishop’s Stortford Enables IFA’s know that it its life style choices that often determine whether we want to live in the town or the country. But a recent survey indicates that a home in the country costs a quarter more than a home in an urban area, on average at the moment.

Interestingly research conducted by Halifax one of the UK’s leading mortgage lenders found the least affordable rural area was Chiltern district, between London and Oxford, where at an average of £477,526 homes cost 9.5 times local average earnings. The Cotswold district was next, with an average house price of 9.4 times the local salary, at £339,052.

On average homes in rural Britain attracted a premium of £46,475, selling for £225,217 against the typical cost of £178,641 in urban areas outside Greater London. Inevitably the least affordable rural areas were all further south. Across rural Britain, Halifax said, homes cost 6.8 times the typical salary, against 5.6 times salary across urban areas outside London. As a result, first-time buyers are struggling to afford them.

Martin Ellis, housing economist at Halifax, said: “It typically costs significantly more to buy in rural areas with a substantial premium existing in all the regions of Great Britain. This reflects the aspiration of many to own a property in the countryside. As one of the leading mortgages brokers in Bishop’s Stortford Enables experienced IFA’s can help people wanting to move either from town to country or country to town to suit their current life style choices or needs.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.