Mixed fortunes for prime country houses

A new study from Savills has revealed that the average price of a prime country home in Scotland rose by 19 per cent in the 12 months to September, though prices in the UK fell by 1.3 per cent over the quarter, according to Knight Frank.

Savills added that the 19 per cent growth compared with UK growth of 11 per cent over the same period.

Knight Frank believes that the prime country house market is now one that favours buyers, and has said that the annualised rate of growth across the UK is in fact 9.4 per cent.

"Since July there has been a markedly different character to the prime country house market – as with the rest of the UK residential market. The market saw a significant shift in confidence and activity in the third quarter of 2007," said Liam Bailey, head of residential research at Knight Frank.

However, the estate agency's competitor has emphasised the significance of the figures for Scotland.

"[The increases in Scotland represent] the fastest period of growth for this sector over the past eighteen years," commented Faisal Choudhry of Savills.

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