To think rural properties will see a price re-adjustment down to pre-covid levels?

[Blossompink]

We live in a small very desirable city. Before Covid we were planning to move away to somewhere more rural for a quieter life and better value for money.

Then Covid came along and it seemed like many people had the same idea especially with the ability to work from home. Many came from London or the South East commuter towns and the house prices rocketed in what had been pleasant but not particularly desirable locations in effectively the middle of nowhere in Somerset and Devon. There were often very few amenities, long travel times to the city and poor broadband/ non existent mobile phone signal.

We ended up staying where we are as it didn't make sense to move. I remember an estate agent laughing at how much these buyers were paying and how the house prices would drop when people realised the countryside was not what they thought it would be and want to move back to the city.

Are you finding this is the case and expect to have a price re-adjustment? or is that it now and the inflated prices will stay that way?

If you want to move move. I can’t fathom waiting for three years for a mythical price drop.
people always talk about price crashes, they never really happen. You might see growth slow or a slight fall, but it isn’t going to fall to pre Covid levels.

Why say inflated prices?

Anything is worth what's someone is prepared to pay for it. And with demand outstripping supply, I expect you're wrong.

Alternatively it could be "I really like this house but can't afford it."

I can't speak of the south but I'm in the rural north and prices are just going up and up here. I keep seeing a crash being talked about on the news but that's certainly not my experience in these parts. I think the north is cushioned to an extent as we never had the boom of the south east so maybe we were overdue a rise.