There are a growing number of Britains who are looking to leave the rat race and move from the country’s cities and towns to the countryside in pursuit of more fulfilling and rewarding lifestyles.

New research from Sainsbury’s Bank reveals that between April and September 2003, some 61,000 people or 6% of all homeowners who will move during this period will join this trend which is part of the general move towards ‘downshifting’.

Lucy Hunter, Mortgage Product Manager, Sainsbury’s Bank said: “With rising property prices many homeowners are beginning to feel much wealthier than they did a few years ago.”

“This has also been helped by some of the lowest mortgage rates ever. Our mortgages for example, now start from 3.2%.”

People are becoming increasingly willing to cash in on the equity in their homes to enhance their lives or even up sticks altogether and move to the countryside. Last year, UK homeowners withdrew £42 billion of equity, £18.1 billion more than in 2001.

It is estimated that around 2.6 million Britons are downshifters, an increase of 53% on 1997.

By 2007, there could be 3.7 million people who have swapped their city lives for the countryside. However, it is not just in the UK that this trend is taking place because there are an estimated 12 million downshifters across Europe compared with 9.3 million in 1997.

Lucy Hunter said: “Britons work the longest hours in Europe. Research also shows that there is a correlation between the amount of time spent at work and the levels of worrying you do about work during your leisure time.”

“It seems that more people are increasingly beginning to question whether they are happy with their current lifestyle.”

“Also, given the wealth they have accumulated through their city and town properties, many are considering cashing in on this and moving to the countryside where properties and the cost of living are less expensive and there is the opportunity to leave the rat race.”