The value of mortgages for country homes in the UK is likely to be affected by a dip in prices for this type of property .
According to Knight Frank, an annual decline in these costs widened to 4.1 per cent in the first quarter of 2012, which was up from the 3.1 per cent recorded in the final three-month period of last year.
However, the rate of this fall appears to be easing, with the 0.5 per cent quarterly dip being the most modest tumble seen in a year.
Grainne Gilmore, head of UK residential research at the organisation – which was founded as Knight Frank and Rutley in 1896 – noted the less encouraging annual comparison can be attributed to slight rises in prices during 2012’s quarter one.
The industry figure stated: “Looking across the price spectrum, it can be seen that the emerging trend of outperformance among the most expensive properties has continued.”
For dwellings worth more than £5 million, the average value increased by 2.1 per cent across the quarterly period, reaching the highest levels seen since September 2008.
