The UK’s high-end country house market is experiencing a revival, with sales of homes over £750,000 up 7% in June year-on-year. This surge comes after a prolonged slowdown, as lower prices entice buyers back to rural living.
Knight Frank’s latest figures show both a rise in transactions and a growing inventory of properties, thanks in part to second-home owners reacting to stricter council tax rules. These changes, especially in Wales and England, are designed to address housing affordability in popular holiday regions.
The influx of new listings—up 9% in the last quarter—reflects owners’ desire to avoid higher taxes. According to Knight Frank’s James Cleland, the market is seeing more activity as prices adjust, with June proving to be a particularly busy month for deals.
Compared to the pandemic-driven rush to the countryside, today’s buyers have more options and negotiating power. With only 5.9 buyers per new listing, down from nearly 19 at the pandemic’s peak, the balance has shifted firmly in buyers’ favor.