Manor Houses Lead Market
Owners of manor houses watched their values go up by £300,000 in 2006 thanks to a strong city economy and shortage of quality properties, says Knight Frank


The price of an average manor house grew by £300,000 in 2006, according to research by Knight Frank. Figures showed a growth rate of 11.2% across the whole prime country house market over the last 12 months, with the most prestigious properties growing in price by £866 per day. Britain?s healthy service sector, booming financial industries and dramatic supply shortage account for the strong performance, says Knight Frank. Manor houses (properties standing on their own with extensive grounds and private drive) proved to be the top performers of all, seeing minimum growth of 11.9% over the year, with the average example increasing in price to £2,940,000. Knight Frank believes London?s booming economy accounts for this rise. ?With the City economy performing well and the prime Central London housing market going from strength to strength, London buyers have taken advantage of continued high price growth and have taken their money out to the country,? explained Liam Bailey, head of Knight Frank Research. But other country properties have also been enjoying price gains. Country cottages (average price £530,000) were up by 1.9%, farmhouses (average price £1,240,000) up 1.7% and manor houses (average price £2,940,000) have increased by 0.5%. ?This growth is equivalent to the average price of country cottages, farmhouses and manor houses growing respectively by £3,591, £9,580 and £26,358 each month in the year to December? Mr Bailey said. Knight Frank is already forecasting a similar story for 2007. ?This strong performance emerged in October 2005, fuelled by then record-breaking city bonuses, and has continued to the present day,? Mr Bailey explained. ?The same phenomenon is expected this year as we move into the 2007 bonus round, with both bonuses and demand expected to be higher than last year. These expectations, coupled with current stock levels being at a lower level than the previous year, means we can only expect strong performance in the market in the first half of 2007.?
Exquisite houses, the beauty of Nature, and how to get the most from your life, straight to your inbox.
Country Life is unlike any other magazine: the only glossy weekly on the newsstand and the only magazine that has been guest-edited by HRH The King not once, but twice. It is a celebration of modern rural life and all its diverse joys and pleasures — that was first published in Queen Victoria's Diamond Jubilee year. Our eclectic mixture of witty and informative content — from the most up-to-date property news and commentary and a coveted glimpse inside some of the UK's best houses and gardens, to gardening, the arts and interior design, written by experts in their field — still cannot be found in print or online, anywhere else.
-
The life that thrives among the dead: How wildlife finds a home in the graveyards and churchyards of Britain
Home to a veritable ‘Noah’s Ark of species’, thanks to never being ploughed, sprayed or fertilised, our churchyards offer a sacred haven for flora and fauna, says Laura Parker.
By Laura Parker Published
-
‘What a shame when a dinosaur disappears into the mansion of an oligarch rather than being displayed for all to enjoy’: The ethics of the dinosaur auction
Fancy a stegosaurus in your living room? You can buy one at auction. But the latest luxury good is a paleontologist's worst nightmare.
By Lotte Brundle Published