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20/01/2009
'Prime time' to live in a very big house in the country |
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It has been claimed that the first few months of 2009 will be a great time for people looking to buy a country house.
Mark Milner, chief executive of Primelocation.com, said that buyers in a solid financial position could become more active and capitalise on the woes in the City and sellers pricing properties more realistically.
"City job losses, for example, will mean there will be country properties coming on to the market from movers looking to downsize or move closer in to the City," he said.
Mr Milner added that a number of second homeowners will also be looking to sell their homes to "release capital".
The value of prime country houses fell by 16 per cent last year, with prices falling by nine per cent in the last quarter of the year alone, according to Knight Frank.
Cottages saw the biggest drop in value, falling 17.9 per cent to an average price tag of £460,000, while farmhouses slipped 15.6 per cent to £1.1 million.
Buyers looking to pick up a manor house could buy a typical property for £2.7 million, 15.1 per cent less than it was worth at the end of 2007. |
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