The prime country residential markets saw an increased level of growth in the first three months of this year, though it remained relatively modest. Whilst values remained flat throughout the second half of 2016, they grew by 0.8% over the last quarter.
Price increases have been fairly consistent across the prime regional markets, in the first quarter of 2017. Growth has ranged from 0.5% in the inner commuter region (locations typically up to 30 minutes travel time from London) to 1.0% in the wider South of England and the Midlands and the North.
On an annual basis, the prime country markets have been outperforming prime London for the past two and a half years, or more specifically, since December 2014 when higher stamp duty rates for properties worth over £1m were introduced. These generally lower value markets have been less exposed to the higher transactional costs which have caused price adjustments in the capital.
Source : Savills