Well, I replaced both rear top mounts and the knocking noise still remains at the nearside rear. I can't think what else it could be other than the shock itself, but when taken out it looked perfectly fine. Also the car passes the bounce test fine.
Maybe it is the rear axle bushes after all, but I'm sure the handling would have been poor at the rear if this was the case. I think to be sure I will have these replaced, especially as my mechanic said they looked a little worn. I thought you couldn't visually determine if they were were worn.
Any advice would be welcome.