6 Jul

High-end property prices stabilising, expert claims

High-end property prices stabilising, expert claims

The prices of top-end properties are stabilising and selling for "more than ever before", it has been claimed.

Smiths Gore stated that over the past three months, the prime country home market has improved "immeasurably" and looks set to continue moving forward.

The firm claims this is especially good news when compared to the state of the industry at the end of last year, as many properties were selling for 20 to 25 per cent lower during this period.

Robert Pritchard, director at Smiths Gore, said it is "quite incredible" that despite few houses being available in the north Cotswolds, "it seems that there are a number of people chasing the same property - there is a lot of competitive bidding going on".

The most popular, he adds, are homes worth £2 million or more.

According to the Knight Frank Prime Country House index, prime country house prices fell by 4.7 per cent in the first quarter of 2009, compared to nine per cent at the end of 2008.
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