Prime country market activity signals renewed confidence

Strutt & Parker’s National Country House Department latest sales data reveals August saw the highest combined value of exchanges, for homes marketed above £2,500,000, since the end of 2022. 

With the majority of exchanges selling at or very close to guide price, the record month signals an underlying enduring confidence in the prime country market and the importance of realistic pricing, and a desire for certain buyers to move. 

This follows a prolonged period of uncertainty that began with the September 2022 mini-Budget and the subsequent period of rising interest rates, the delayed Autumn Budget last year, and the Iran conflict in early spring. Strutt & Parker’s August data may provide an early signal to the absorption of uncertainty and economic instability in the prime country market and a recalibration of pricing expectations. As a result, the renewed activity points towards a return of confidence in decision making for both buyers and sellers. 

Oliver Custance Baker, Senior Director and Head of Strutt & Parker’s National Country House Department comments, “Buyers and sellers have had a tough time trying to negotiate a myriad of potential tax changes and economic uncertainty for the past few years since the mini-Budget of 2022. More recently the infamously delayed Autumn Budget last year halted the summer market, and the Iran conflict in early spring this year put a dampener on decision making.”

While January and February saw high levels of activity in the prime country market, the Iran war impacted the market by delaying early spring launches to May, a key driver in high activity levels in August. 

Oliver continues, “There’s demand in the market certainly; buyers and sellers can only be stalled so much before there are break throughs in activity. There is a focused group of buyers who are keen to transact, so realistic pricing and a meeting of buyer and seller expectations are key to the recent successes.”

The number of buyers registered by Strutt & Parker’s National Country House Department year to date just ahead of last year, while viewing numbers are slightly down. However, with agreed sales and completions outperforming 2025 those active buyers in the market are motivated and decisive. 

“We sold a significant home last week after just one viewing that took under an hour, and agreed the sale at the guide price. Sometimes all it takes is the right price and the right buyer, not necessarily lots of competition,” Oliver concludes.