Where is the Country House Market Going? By Andrew Rome, Knight Frank, Winchester

The Country House market in Hampshire and the surrounding area is showing greater resilience than you may think by reading the press, but there can be little doubt that the housing market is tough and will most probably continue to be so for all of 2009.

We feel we have seen prices come off by 15% to 20% over the last 12 months within the national regional market, with the majority of this being in the last quarter of 2008. Despite this, there have been some notable sales on the Isle of Wight. In particular, we were delighted to have sold Westover Park at Calbourne, a regency gem set in parkland and working with Christopher Scott there have been a number of highlighted sales, including The Old Rectory on the edge of St. Helens and Fishbourne House at Fishbourne.

The buyers within the Hampshire and Isle of Wight regions continue to be drawn from a wide area, with 26% from London and 78% coming from off the Island.

On a regional basis, about 40% of our buyers are from out of the regional base of our Winchester office.

At Knight Frank we have had a long and fruitful relationship with the Island based agents Christopher Scott providing a joint service to both the purchaser and vendor alike. The reason why this relationship continues to be so successful is that at Knight Frank we can provide the maximum mainland and international connection linking in the right clients adding to Christopher Scott’s existing base. This is assisted by having 16 offices in London, 29 offices spread throughout the United Kingdom which is complimented by 162 offices across the globe. Over the last year Knight Frank is the only national agent to have set up a specialist waterfront department dealing with properties that either abut or overlook the sea.

Knight Frank continue to be hopeful that the country house market will remain active in the Spring and early Summer.

For more views on the current housing market go to www.knightfrank.co.uk