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Buy to let property insurance: Property for young people in rural areas an "increasing problem"
14 Jul 2010
In news that could affect buy to let insurance customers, the difficulties that many young families face in affording their own property in rural areas is an "increasing problem", PricedOut.org.uk has said.
The website, which is the national campaign for affordable housing in the UK, was responding to a survey from the National Housing Federation which showed that 65 per cent of people living in the countryside believe that young people are being forced out of their local village or town by high house prices.
Katy John, press officer for PricedOut.org.uk, said that the government needs to recognise that many families are being "directly displaced" by property investors and should establish and meet "clear targets" for rural house building, which could benefit property insurance customers.
She said: "Many young people and young families living in rural areas ... all too often find themselves in competition with second home owners and buy-to-let investors for local properties."
Prime country house prices increased by an average of 2.5 per cent in the second quarter of the year and have risen by almost eight per cent in the past 12 months, according to Knight Frank statistics.
Posted by Michael Brown
