Manor houses outperforming mainstream market

Price growth in the manor house market is well above that recorded in the mainstream UK housing market, according to new research.

Estate agent Knight Frank has reported that prices of country houses grew by 3.3 per cent in the second quarter of 2007, fuelled by price growth of 4.1 per cent in the manor house sub sector.

As with recent Knight Frank figures for prime central London, the top end of the country housing market continued to outperform less expensive homes. Properties worth £4 million or more rose by 21.2 per cent over the past year, compared with growth of 8.5 per cent for properties worth under £1 million.

"2007 is proving to be a strong year for the country house market. Manor houses proved to be the strongest sub sector yet again, with prices growing by 4.1 per cent bringing their annualised price growth to 11.6 per cent, well above the 8.9 per cent recorded for the mainstream national market," commented Liam Bailey, head of residential research at Knight Frank.

"The current average price of a manor house has now broken the £3.1 million barrier," Mr Bailey added.


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