Country houses on the market to remain low
Published 26/03/2010 | 05:00
Supply of large country properties will remain low with few new properties coming to the market until late Spring. As a result there is a shortage of good quality country houses on the market at present, according to estate agent Peter Kenny in the latest issue of the Colliers Jackson-Stops news bulletin.
He reports that viewing activity increased towards the end of 2009 as prospective buyers sought to take advantage of the lower prices. "However the majority of them . . . were finding it difficult to secure mortgage approval . . . also due to a lack of quality properties on the market they found choice to be very limited," he added.
He also believes that a low supply of 'suitable' city houses has pushed willing buyers into the short-term rental market.
He expects the country house rental market demand to remain strong, resulting in a stable market and a levelling off of rents.