Ben Horne, our Head of Country Buying, spoke to the Financial Times this week for a detailed examination of the UK country estate market above £5m – what is shifting, and who is moving first.
The conditions are increasingly favourable for buyers
Sellers have become more realistic on price, and renovation costs – which rose sharply between 2019 and 2024 – have since stabilised. Contractors, having navigated a difficult few years, are now providing more detailed upfront quotes. The ability to cost a project accurately before making an offer has become one of the key factors enabling transactions to move forward, and it is making a meaningful difference to buyer confidence.
Sellers are also increasingly preparing their properties for market more thoroughly – obtaining planning permissions for extensions or conversions ahead of listing, which reduces uncertainty for buyers and helps transactions complete more smoothly.
Who is buying
A particular type of buyer has moved from watching to acting. For those with the professional infrastructure to manage a large-scale project – established architect, builder and advisor relationships, and a clear sense of what a renovation will cost – the current market presents a set of conditions worth taking seriously.
As Ben Horne tells the FT: “These intelligent, financially literate buyers are measuring the opportunity. One client was browsing last year, and has now switched to buying mode. Another is calling me weekly, asking about homes he’s found online.”
These are buyers with the patience to hold a property through a project that may take two to three years, and the clarity of vision to know exactly what they want to create. As the FT notes, very few buy a country estate to flip – and the ambition behind these purchases reflects that.
A note on negotiation
One of the more useful observations in the piece concerns how buyers are approaching negotiations. Ben’s counsel is measured: vendors who have lived in a property for decades respond well to buyers who demonstrate a genuine connection to the house and a clear intention to be good custodians of it. He regularly suggests buyers accompany their offer with a letter to that effect.
The most successful transactions in this market tend to be those managed discreetly, with the right preparation on both sides. Off-market sales continue to achieve meaningfully better outcomes for sellers – and a more straightforward process for buyers.
What this means if you are buying
For buyers who have done the preparation – who understand project costs, have the right teams in place and are taking a long-term view – the current environment offers genuine opportunity. Exceptional estates remain rare, and those that come to market at a sensible price, in the right location, continue to attract serious interest.
If you are considering a country estate purchase and would like to understand what we are seeing across the markets we cover, Ben would be glad to speak with you.
Read the full article here.
