By Nick Allen and Laura Clout The housing market downturn has spread to country mansions with luxury properties in the Home Counties plummeting in value. Prime country property had until recently defied the slowdown but Savills, the property group, warned that country houses valued at up to £4 million are no longer immune to the stuttering market and the immediate future looks bleak. It said prime regional county house values fell by 4 per cent over the last three months, blaming the downturn on reduced access to mortgage finance and the fallout from the London market where the prices of Savills' £1 million-plus homes have fallen by 7.5 per cent already this year. Country home values are now 3.4 per cent down on 12 months ago and the falling prices were most pronounced in properties valued between £500,000 and £2 million. One...
[read full story]
Your Web Site
