15
Jul
Survey records price falls in country house market
Large price falls were seen in the prime country house sector in
the second quarter of 2008, a new survey from Knight Frank has
suggested.
These properties dipped in value by 3.9 per cent during this period
of time, while cottages were the most badly affected, falling by
5.7 per cent.
Head of residential research at the company Liam Bailey noted that
the problems impacting on the market as a whole have begun to seep
into the high end.
"These homes tend to attract workers in the professions, who are
becoming more cautious in the wake of a more pessimistic economic
outlook," he commented.
And he said that the properties have decreased in value over the
course of a year, the first time this has become a reality in the
history of the price index.
Homes in prime central London were also trimmed in price between
May and June, Knight Frank has highlighted.
