UK Prime Country House Index - Q1 2020
Country house prices experienced their strongest rate of growth since the second quarter of 2018 in the opening months of this year, ahead of the UK entering lockdown.
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In the first three months of 2020 growth was 0.2%, which was due to growing confidence after the decisive general election result in December.
On an annual basis the Prime Country House Index was flat in March, although this came against the backdrop of mostly declining prices for the past three years.
This was due to a period of political uncertainty and tax changes that tempered activity.
Despite this, the number of viewings and prospective new buyers registering with Knight Frank showed an upward trajectory, in a further indicator of increasing momentum in the market.
However, with the advent of Covid-19 restrictions this progress has paused.
Activity in the country house market was also underpinned by historically low interest rates and mortgage lending that reached a six-year high in February.
Read the full report here