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03 Oct 2012

Investor Interest Boosts Value Of UK Country Homes In Top Price Brackets

Demand from local as well as foreign investors has helped push the value of UK country houses in the top price bands in the third quarter of the year, according to Knight Frank´s latest Prime Country House Index.

There has been a growing number of buyers from London that are looking to sell their properties in the capital, in view of the record high prices there, and move to the country. In addition, international investors have shown an increasing interest in prime houses in the UK countryside, with a significant rise in the number of web searches for such properties on Knight Frank´s search engine from the US, Germany, Canada and Spain over the past three months, particularly for houses worth £5 million or more.

As a result, prices for country houses worth between £4 million and £5 million have edged up 1% over the past year, while the value of properties worth £5 million and more has increased by 3.2% in the period, according to the index. By contrast, the prices of homes worth up to £2 million have seen an average decline of 4.3% over the past year, and properties worth between £2 million and £3 million have dipped by over 7%.

Places that have seen an improvement in prime house prices over the past year include Oxford, with a 2.3% rise in property values, Guildford, where prices have grown by 2%, and Esher, where home values have jumped by 4% on the year, the index showed.

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