Country House Buyers Market In Full Swing

Prime country property buyers are having a field day, as the supply of homes listed for sale outpaces demand by the biggest margin in seven years.

Knight Frank’s latest Prime Country House Price Index suggests that, for every new sales instruction in the three months to June, there were only 5.9 new prospective buyers. That compares to nearly 19 at the height of the pandemic-era “escape to the Country”.

The last time buyers were in such a strong negotiating position was back in Q2 2018, when doubts surrounded the UK’s Brexit deal and the longevity of Theresa May’s government. The supply/demand ratio has been this low only twice in the last two decades.

Knight Frank’s Country House index covers a range of urban and rural markets above £750,000 outside London.

Some +9% more such properties were listed for sale in Q2 this year the last. Knight Frank attributes this jump in supply to a number of factors, including a stock overhang due to March’s stamp duty cliff edge, buyers re-activating plans put on hold last year due to the political upheaval, landlords selling due to red tape and holiday homes coming to the market due to recent council tax changes.