20 Apr

Prime country property prices 'on the rise'

Prime country property prices 'on the rise'

The value of prime country properties in the UK is on the increase, new figures suggest.

According to the latest index from Knight Frank, such residences rose in price by an average of two per cent during the first quarter of this year.

The home counties saw the most significant gains, which growth of 2.9 per cent during the three-month period.

This took them to an annual increase of 9.1 per cent, Knight Frank noted.

Andrew Shirley, head of rural property research at the firm - which has roots tracing back to 1896 - said a shortage of supply is behind the trend.

At the same time, demand for residences of this kind is going up around the country, he noted.

Mr Shirley added: "The big question now is whether prices can continue to rise during the rest of the year as the fiscal austerity needed to cope with the UK's budget deficit starts to bite."

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