The UK’s luxury country house market is showing renewed strength, with sales of homes priced above £750,000 rising by 7% in June compared to last year. This improvement indicates a recovery in buyer interest, largely driven by falling prices that are pulling buyers back after a period of sluggish activity.
Estate agency Knight Frank reports that more country homes are changing hands, with a notable increase in available properties as prices continue to ease. One key reason for the higher supply is the number of second-home owners listing their rural retreats, motivated by recent council tax changes aimed at making holiday hotspots more affordable for locals.
New regulations now allow councils in Wales to quadruple taxes on second homes, while English councils can double them, prompting many owners to sell. The second quarter saw a 9% jump in country houses coming to market compared to the previous year.
James Cleland, head of country business at Knight Frank, noted that “prices are correcting and as a result activity is noticeably picking up,” with June seeing a flurry of deals across all price brackets. The current market dynamic gives buyers more negotiating power, a stark contrast to the post-pandemic “race for space” when demand soared.