Prime country house prices fall
PRIME country house prices fell 0.5 per cent in the first quarter of this year, moderating from a 1.7 per cent decline at the end of 2011, say Knight Frank.
The annual fall in prices widened to 4.1 per cent but prospective buyers are up 32.5 per cent on the year and sales volumes have increased, with a 13 per cent rise in the number of exchanges
Grainne Gilmore, Head of UK Residential Research, says: “Feedback suggests that the changes to the stamp duty regime have been factored into purchasers’ budgets.
“The economic turbulence buffeting the country has had an impact, and has taken a particular toll on the market for homes worth £1m to £2m, where values fell by1.4 per cent on the quarter.”