A survey has shown that the majority of people in their 20s would rather live in the countryside than the city.

In a poll which may debunk the notion that young professionals would rather live close to work, entertainment facilities and other city centre amenities, Yorkshire Bank has found the majority would rather live somewhere more green and peaceful.

The survey showed that 62 per cent of this age group believed living in the city was not essential for career.

It also found that 72 per cent of people overall would be prepared to take over an hour to commute to work and 59 per cent thought health and well being would be improved by country living.

Such findings may have implications for the future demand for new homes, with those in rural areas more popular.

The best rural quality of life is in the Chilterns area of Buckinghamshire, according to new research by Halifax.

Factors taken into consideration included earnings, home ownership levels and school results.

UK Property news posted 7th May
 

All nine economists quizzed in a poll over next week's Bank of England monetary policy committee meeting have forecast the base rate will remain unchanged on five per cent.

Speaking to Adfero, many of the experts gave a simple answer that there will be a hold decision, but both Centre for Economics and Business Research economist Richard Snook and a spokesperson for Nationwide said the likelihood of such a decision was 70 per cent rather than a certainty.

Howard Archer of Global Insight suggested the vote was looking a "closer call by the day" and negative economic news between now and the vote could yet lead to a cut, while Karen Ward of HSBC forecast a trimming of the rate in June.

Last month's vote saw the MPC shaving 0.25 per cent off the base rate but the nature of it was unusual, with six supporting the cut, two voting for a hold and one favouring a 0.5 per cent reduction, the first three-way split since May 2006.

UK Property news posted on 02 May 2008
 

Buying homes rather than renting is still the favoured option for most Britons, it has been suggested.

Director of residential property agent Ludlowthompson Stephen Ludlow said there was no likelihood of a change in culture which will see renting being favoured.

He stated that the biggest reason for this was that there is 100 per cent tax relief on the sale of a home, making them better investments than pensions or other investments.

"As long as that stays in place you will always get a swing back to home ownership once you have got the fundamentals of the conomy right," he forecast.

Mr. Ludlow predicted that once conditions improve home buying will rise again.

Yesterday, National Association of Estate Agents chief executive Peter Bollton King played down news from Nationwide that house prices have fallen in the past year, pointing out that they have risen by far greater amounts in the last few years.

UK Property news posted 01 May 2008