North hit hard­est over prime prices

Yorkshire Post - Property - - PROPERTY -

PRIME coun­try house prices fell 1.7 per cent in the last quar­ter of 2011, but over­all they are 3 per cent above the post credit-crunch low in 2009, say Knight Frank.

Its re­port re­veals that prices of prop­er­ties worth more than £5m are still ris­ing. The Home Coun­ties mar­ket has been the most re­silient, down 1 per cent on the year. Knight Frank’s Grainne Gil­more says North of Eng­land price falls were most pro­nounced, down 10 per cent.

She adds: “Ac­tiv­ity in the prime mar­ket has been much more re­silient than in the main­stream UK mar­ket. Prime coun­try sales are 16 per cent lower this year than the mar­ket peak in 2007 while sales in the main­stream UK mar­ket have halved over the same pe­riod.”

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