Credit crunch hits prices of country estates in Scotland

It sells but at what price? (Image: http://www.sxu.hu)

Despite the ever hopeful claims of the estate agents that a good country estate will always sell, it appears that, at least in Scotland, the average selling price has fallen sharply.

Research by the estate agents Strutt & Parker has shown that between 2008 and 2009 the average selling price of the 13 country estates – defined as “significantly more than a house with some land but not farms or forestry properties” – sold in that period the average price dropped by £2.6m. Of the 13 sold, seven were sold for less than the asking price.

Full story: ‘Country estates caught in credit crunch as prices halve in 12 months‘ [The Times]