Overview

• Knight Frank data shows exchanges for country homes worth over £750,000 rose by 7% in June compared with last year.
• New instructions for high-end rural properties climbed 9% in the second quarter as second-home owners responded to higher council taxes.
• Average country house prices fell by 3.5% in the three months to June, accelerating the market correction after the pandemic boom.
• There are now just 5.9 potential buyers for each new country house listing, down from nearly 19 at the height of the pandemic rush.
• Councils in Wales can quadruple taxes on second homes and English councils can double them, prompting many owners to put properties on the market.