The value of prime country houses increased by 3.1% during 2015 – a sign that the market is finally adjusting to stamp duty changes announced at the end of 2014.
Knight Frank reports that between October and December last year, prices increased by 0.6%.
On top of this, the number of £2 million-plus properties sold in the three months to December was up 15% - when compared with the previous quarter.
The high-end agency predicts that prime country house prices in England and Wales will rise by an average of 3% in 2016.
“With the economy recovering and continuing low interest rates, we are confident that the market for top end country homes will improve after initial concerns over Stamp Duty changes,” comments Rupert Sweeting, Head of Knight Frank Country.
“As it is proving to be the case following the changes announced last year, buyers will become accustomed to the new rates.”
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