Yahoo Finance There is one type of home in the country that's seen a 24% surge in prices
One kind of property type has delivered 24% growth in prices over the last five years.
Knight Frank’s Prime Country Index report for the last three months of 2018 notes that prices for townhouses have increased by almost a quarter since 2013.
Meanwhile, prime regional property prices fell in the last quarter, which resulted in an annual performance of -0.6%.
The best performing region for the year was the north of England, with annual price growth of 1.3%.
Brexit uncertainty was blamed for the fall in prices, as Knight Frank’s Residential Research associate Oliver Knight explained: “Both buyers and sellers have become more cautious as uncertainty surrounding the UK’s departure from the European Union has intensified and values in prime markets have slipped on an annual and quarterly basis as a result.”
However, demand has yet to fall, according to the report. There has been no growth in the last year, but demand remains above the levels of 2015.
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Knight said: “New buyer registrations and viewings are on a par with levels seen a year ago and above the level seen in 2015, which may suggest that pent-up demand is forming and could be released once political uncertainty recedes.”
For 2019, Knight Frank predicts price growth across prime regional markets of 0.5%, and growth of 8.2% to 2023.
“Pricing is expected to remain subdued as we head into 2019, though the relative value on offer in most prime regional housing markets should help underpin demand.
“Over the last five years, for example, manor houses have reported growth of just 0.8%, compared with growth of 19% and 24% respectively for cottages and townhouses over the same period,” the report adds.
