Property prices are recovering in London and the average detached home now costs £730,686. But with many parts of the country yet to catch up this could be the perfect opportunity to escape the city. Here are ten top destinations for downsizers.
Abergavenny
This proper market town in Monmouthshire, Wales, is charming, friendly and lively but far from twee. Downshifters will live among farmers, families with members in the forces and a community of bikers. The Brecon Beacons National Park is just next door. Property prices in Monmouthshire are still 16 per cent below their peak in April 2008 which means that the price of a detached house in Abergavenny is £281,442.
Cockermouth
This Georgian market town on the edge of the Lake District is best known as the birthplace of William Wordsworth. But despite its cobbled lanes, it’s not just for tourists. That residents work hard to promote local produce, shops and entertainment gives it a more urban feel than many rural communities. The average detached house costs £292,211.
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Diss
The more leisurely pace of life in Diss in Norfolk has made it popular with stressed-out Londoners. Lucian Cook, director of Savills residential research, says: “Over the past three years the number of season tickets to Diss has increased 131 per cent reflecting the opening up of mid Suffolk and south Norfolk to a new breed of commuter.” Here an average detached house costs £248,036.
Exeter
Downsizers who want all the benefits of beautiful countryside without losing the convenience of living in town, gravitate towards this university city in Devon. There are plenty of shops, restaurants, bars, schools and doctors here. But green fields and narrow hedged roads are only a few miles from the centre, and Dartmoor National Park and great beaches a little farther. House prices are 10 per cent down on August 2008. The average detached house costs £316,263.
Ludlow
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This Shropshire town takes downsizing seriously: it was the first place in Britain to become a “Slow Town” or Cittaslow in 2003. The Italian movement identifies towns where a sense of history, tradition and quality of life are prized above convenience and speed. There are more than 500 listed buildings here but an average detached house costs £265,666. So downsizers have more money to spend in the town’s five butchers, four bakers and Michelin-starred restaurants.
Painswick
The lesser-known part of the Cotswolds around the small town of Painswick (west of the A46) is not as convenient for commuters and weekending Londoners and is hence significantly cheaper. Prices in Painswick have fallen sharply. Properties listed on Globrix show that you can find a three-bed 1930s semi for £210,000. Bigger four-bedroom detached houses farther out sell for about £500,000. “Painswick is pretty, full of life and has great shops,” says Jo Aldridge, regional director of Stacks Property Search. “It’s much more bohemian in this part of the Cotswolds, so there is no need to put on make-up before the school run.”
Taunton
To many rushing down to Cornwall and Devon, Somerset is just more miles on the clock. But downsizers who have stopped here have not only benefited from a lively town and beautiful rolling countryside but also greatvalue property. The market has been flat since March and the average home now costs £158,801, 17 per cent less than at the height of the boom.
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Truro
The “capital” of Cornwall and the countryside around it became so popular with downsizers and second-home buyers during the property boom that prices shot up well beyond the reach of most locals. It is still not cheap, especially if you want something old, quaint and by the water. That said, unlike London, prices have not risen since April. The average detached house costs £316,263.
Sturminster Newton
Rural Dorset is downsizer heaven. Cranborne Chase and Dorset Downs are both stunning. But the town of Sturminster Newton in the heart of Blackmore Vale stands out because of its sense of community. After the Cattle Market closed in 1997, locals worked hard to create The Exchange, a community centre with a theatre, local GP services and town council offices. The average property price in town is £239,616 but £310,024 gets you a detached house.
Vale of Belvoir
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This is Stilton and pork pie country where life revolves around farming and community, perfect if you want to embrace a greener lifestyle. Most villages have a thriving pub and shop. “There are lots of horsey people but it’s not snobby,” says Charlotte Walker, regional director of Stacks Property Search in Nottinghamshire, adding that “£250,000 gets you a three or four-bedroom house”.