News: Regional house prices fall due to “lack of clarity” and uncertainty surrounding Brexit

By Matt Balmer
April 17, 2019

April 2019: British estate agency Knight Frank has published its Prime Country House Index up to the end of Q1 2019.

The report shows an increase in offers made and properties sold subject to contract.

However, it also highlights a fall in property prices
in regional markets throughout England and Wales, which were down by 0.8% over the first three months of the year.

“Recent performance in regional markets reflects heightened political uncertainty surrounding the UK’s planned exit from the EU,” says Oliver Knight, associate at Knight Frank Residential Research.

“A lack of clarity about the outcomes and timings has resulted in caution among some buyers and sellers in prime residential markets. Generally, more moderately priced properties have been resilient. Property worth up to £1 million fell by a relatively modest 0.7% annually, while £2 million-plus properties have fallen by an average of 2.5%.”

Image: Offham Manor, Teston Road, Offham, West Malling, £1,850,000, available through Knight Frank