Blake Lively has reportedly bought a new home on the outskirts of New York City.

The Gossip Girl was rumoured to have been looking for a new pad with boyfriend Ryan Reynolds either in Manhattan or in Connecticut.

But E! News reports that the actress purchased a property earlier this year which fits in with her new low-key lifestyle.

"Blake bought the place in Bedford earlier this year and has been spending almost all her time there since Gossip Girl went on hiatus," a source close to the couple told the site. "Ryan lives there too."

"She no longer has an apartment in the city. She now has to stay in hotels when doing business in Manhattan and enjoys life upstate more. She loves horses and getting away."

Blake and Ryan have been seen around town horseback riding and dining at local eateries.

People magazine had reported that the house "cost more than $2 million."

The Green Lantern co-stars have been friends for a while but began dating late last year following Blake's split from Leonardo DiCaprio and Ryan's divorce from Scarlett Johansson.