A big kitchen and warm AGA for the family to gather around and a garden large enough to grow-your-own are just some of the reasons why farmhouses and country cottages in Yorkshire and beyond remain popular places to live, according to new Carter Jonas research.
The national property consultant’s Farmhouse and Country Cottage Indices, compiled from data gathered by the firm’s 15 residential offices around the country, have revealed both property types have experienced positive capital growth.
They reports also announced that the notional price of a farmhouse now stands at £1.49 million, while demand across both the farmhouse and country cottage markets increased over the six months to September 2013.
Brighter economic prospects are driving demand, but so is a lack of rural stock that is currently at a historic low as many people are reticent to move as they fear they will not find somewhere for themselves.
Overall prices for country cottages in the North showed a modest average increase of 0.5 per cent, with York performing the best (2.2 per cent increase).
Significantly no offices reported a fall in valuations for country cottages. Farmhouses in the Northern region experienced an overall 1.1 per cent dip.
Tony Wright, partner and head of residential at Carter Jonas in Yorkshire, said:
“It is now widely perceived that the Northern market has reached the bottom of the cycle, and that values will begin to rise in 2014 as a consequence of the improvement in demand witnessed in recent months.
“Realistic pricing remains a key factor when bringing a property to the market.
“Properties that achieve the best prices are those being released to the market with an accurate guide price in the first place.”
Nationally, the migration of families to the countryside is expected to gather momentum during 2014.
Consequently, values in the farmhouse market are forecast to rise between three and five per cent in prime hotspots during 2014.
The Carter Jonas country cottage index is based on a three-bed detached rural property, 1,750 sq ft in size with a small garden and private parking.
The farmhouse index is based on a property comprising five bedrooms, stables, a three-bay garage, range of domestic outbuildings and approximately five acres of land.
Both of the theoretical properties are located within a five mile radius of each of the 15 Carter Jonas offices throughout the UK.