Tougher stamp duty rules have hit prices for top country homes – Knight Frank

Prices of top country homes have slowed over the third quarter of the year as tougher stamp duty rules hit demand for £1.5m plus properties, according to research out today.

 

Knight Frank’s index of prime country property shows prices edged up by 0.7 per cent between July an September, compared with a 0.9 per cent rise in the previous quarter. 

 

However this still outstripped the prime central London market for the second month in a row, where prices grew by 0.3 per cent. 

 

Knight Frank said while demand for homes under £1.5m remained strong, those costing more had been badly hit by stamp duty reforms, with Land Registry figures showing 35 per cent fewer sales in the year to July.