Sales of high-end country homes in the UK picked up in June, hinting at a possible turnaround in buyer interest after a prolonged slowdown. New data shows a 9% rise in listings for rural properties in the second quarter of the year compared with the same period in 2023.
Estate agents suggest falling prices and rising council tax on second homes are key factors behind the increase in supply. In England, local authorities can now double the council tax on second homes. In Wales, the premium can be up to four times the standard rate. These changes are encouraging second-home owners to sell, especially in popular holiday areas.
The average price of a country home fell by 3.5% in the three months to June, a sharper drop than the 1.6% annual decline recorded to March. Lower prices are tempting some buyers back into the market.
The renewed interest follows a dip in demand after the pandemic-era “race for space”, when lockdowns prompted many to leave cities in search of rural living. Since then, market momentum has slowed, but some of the backlog is now shifting.
A stock overhang from March’s stamp duty changes also contributed to the increased supply. Meanwhile, some potential buyers who paused plans during last year’s political instability are now returning to the market.
While it’s too early to call it a full recovery, these indicators suggest a cautious return of confidence in the country house market.
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