Mortgages are becoming increasingly important in rural areas of Britain which have recently viewed a hike in house prices.
The tough situation faced by a growing number of young buyers in the countryside has been described as an "increasing problem" by PricedOut.org.uk.
Quiet and peaceful countryside homes are of special interest to second home buyers who are usually on the look-out for a rural neighbourhood to relax in, away from the fast-paced lives of the urban cities.
More often than not landlords of buy-to-let properties also purchase houses in far-out villages.
These two driving factors compiled with the recent increases in house prices across the country make life more difficult for young buyers.
Katy John, press officer for PricedOut.org.uk, called on the government to take necessary action and provide adequate support to help first-time buyers who are looking to buy in their own villages or towns.
She said: "Many young people and young families living in rural areas are desperate for the security of owning their own home, yet all too often find themselves in competition with second home owners and buy-to-let investors for local properties."
Setting clear targets to build new accommodation in rural settings to cater to the local population would be one way of redressing the situation, suggested Ms John.
According to a recent poll carried out by the National Housing Federation, 65 per cent of people inhabiting rural regions strongly felt that young families struggling to find their footing in the property market were being forced to move elsewhere, owing to unaffordable house prices in their own locality.
Property prices for prime houses in the country side have increased by 2.5 per cent in the first quarter of the present financial year. The house prices have been growing steadily for the past twelve months and have registered an eight per cent increase, according to data published by Knight Frank.  |
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