It's another trend or phase in the house market. During and post Covid there was a massive shift from the urban conurbations, with their often stifling density of population to seek more open less crowded locations especially near the coast or in the countryside. However, one does tend to have less infrastructure eg
public transport, facilities like upmarket schools and shops and of course more limited entertainment choices out in the sticks away from the likes of London. The impact locally of London house money coming into an area, increases the purchasing power of the buyer and they can get far more property compared to a city centre location. End result competition for prime spots forces house prices to sky rocket locally.
However, once the rose tinted glasses fall away, and the lack of choice and variety wears thin, I'm increasingly seeing more press articles that many now miss the city way of life and want to return. The only problem is that the potential market of buyers for their over inflated house price is now much thinner on the ground, and so local house prices start to fall for the once highly sought after properties. Some are finding this a painful experience, a few are trapped by the current state of the local house market as they now can't afford to sell up. having paid too much in the first place and return. Locally we had seen some of the prime property prices double and treble post Covid, but those properties are now sticking on the market as the number of prospective buyers at these over hyped prices are getting fewer and far between, as the demand for such houses falls back to the more realistic demand levels that existed pre Covid.
