UK Money News
9th April 2008
Prime country homes resisted large falls
The value of prime country house property is remaining relatively resilient to the slowdown in the property sector.
According to figures from Nationwide, the value of the average UK home depreciated 2.5 per cent in February.
However, a new study from Knight Frank shows that prices for country property in prime locations have remained relatively robust and have slipped by just 0.2 per cent in the last three months.
Liam Bailey, head of residential research at Knight Frank, said: "It is clear that the influence of the correction we first saw in the wider market towards the end of last year is now gently working its way through the country house sector. However, there is no evidence of a serious loss of value."
The study showed that farm houses actually rose by 0.3 per cent over the first quarter of the year, while manor house lost 0.4 per cent of their value.
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