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Prime country house prices rising for 13 successive quarters says agency

Prime country house prices have been rising for 13 consecutive quarters despite the concerns over stamp duty reform, according to Knight Frank.

It says prime country house prices rose by 0.3 per cent in the first quarter of 2016 taking year-on-year figures up to 2.4 per cent growth. 

Perhaps unsurprisingly sub-£1m homes have outperformed the rest, rising by over 4.0 per cent annually.

The agency says sales volumes in the first three months of 2016 were up by nearly a quarter year-on-year

“There’s been a significant rise in activity in the south west especially with coastal properties as buyers rush to avoid the additional three per cent tax on second homes. In other parts of the country we have seen vendors exchange and complete simultaneously prior to the end of March but grant a licence or tenancy to the vendor to enable them to move out/find another home” explains Rupert Sweeting, head of Knight Frank Country.


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