In the first half of 2018, prime country house prices have increased by 0.9%, according to the latest data from Knight Frank.

Annually, prime country prices are now 0.7% higher than they were this time last year.

Some of the most significant regional growth – above the national average – has been recorded in the prime markets of the Midlands and the North at around 3%.

Meanwhile, a demand-supply imbalance means that the urban markets in locations such as Bristol, Cheltenham and Harrogate are outperforming the country average.

Knight Frank says that the UK’s rural property markets still represent good value after a period of subdued price growth.

“Markets outside the traditional London commuter zone have generally enjoyed the strongest rises, with more muted pricing in the capital being reflected in its immediate surroundings,” says Oliver Knight, research associate at Knight Frank.

“While it is important not to overstate its impact, Brexit continues to create an element of uncertainty among some buyers and vendors.”

“Interest rates are also expected to rise this year, albeit gradually. This underpins our forecast for fairly modest price growth in prime regional markets in 2018 of 1.5% and for 2% growth in 2019,” he says.