Figures show that over the 12 months prior to March 2019, prices in prime markets have fallen 1.8%, the biggest drop in five years. This is attributed to heightened political uncertainty surrounding the UK’s planned exit from the European Union.
There is a wider trend of price rises in the market for properties in urban town and city settings, relative to more rural counterparts. Strong price growth in the years following the financial crisis in areas including Bath, Bristol, Cheltenham and Oxford means values for prime homes in urban locations have surpassed pre-financial crisis peaks.
Rural properties by comparison remain more than 10% below peak levels. Knight Frank said they believe that this relative value could help drive demand in more rural markets in 2019.
→ Estate Agent Today - Prime rural prices see largest fall for five years thanks to Brexit
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