James Mackenzie, head of Strutt & Parker's Country House department, gives advice to people thinking of buying or selling in the current market...

As we creep closer to the election and the uncertainty it brings, the threat of mansion tax and stamp duty are weighing heavy on people’s minds. Buyers of prime country and London properties are sitting on their hands until next year. The over £10million market has now slowed down considerably too, indicating the super-rich are lying in wait. More London applicants are registering with us than ever before, but have yet to make their move.

In light of this changing market, we want to position ourselves as the agent who dares to tell the whole story and give right advice up front. Some believe the market is still generally over inflated – which results in disappointed clients when offers are not forthcoming. Owners don’t need to be told what they want to hear, but what they need to hear.

It’s not all doom and gloom, however; land is seen as an effective and clean way of avoiding inheritance tax, bringing with it the potential for additional income. This has meant houses between £5 and £10million that come with significant acreage are selling quicker than ever before. Everyone wants land!

The decline in seasonal markets has had a positive effect on sales too. Strutt & Parker reported more prime country sales last November than in any other month to date. This indicates that with a lull, there will inevitably be market uplift in the near future, especially if we see no radical change in mansion tax.

This is a real buyers’ market and one that I recommend any who are thinking of purchasing in the prime country arena to do so now. Where we would have had 3 or 4 very serious offers on a property, we are now seeing just 1. This lack of competition opens up the opportunity for a quick sale and securing a good price. It also means buyers have a huge amount of choice in terms of current for sales, with some historic country estates on the market now for the first time in decades.

I would advise those who are thinking of selling to take into consideration 3 key things:

1. Be honest on pricing
On a market appraisal, don’t be flattered by the highest price. Take on board the current market conditions and listen to the advice of the estate agent on where to position yourself. If the price is too high, your house might sit on the market and go stale, encouraging lower offers and hesitation from potential buyers.

2. Expect the unexpected
Just as the market dips, it will rise again, often within a short period of time. Your house will sell. Due to our economy doing better, in theory the property market should be busier now than at the beginning of the year. This has not been the case. The Bank of England has exerted pressure to hold back on lending and financing, taking its toll on the wider market. But this is by no means a ‘bad’ market – time and time again property continues to be one of the most solid investments you can make for your future.

3. Choose the right agent
Homes don’t sell quickly, so it is important to be part of a trusted team; someone who can work with you closely over a long period of time and hold your hand where needed. My job is to help you move, rather than help you sell.