The high-end property market is seeing signs of recovery, it has been revealed.
Individual houses are selling either on or above asking price, suggested Robert Pritchard, director at Smiths Gore, which could spell hope for the wider economy.
"It is quite incredible that in the north Cotswolds - where there isn't a great deal of houses, but it seems that there are a number of people chasing the same property," he continued.
Mr Pritchard emphasised that competitive bidding is being seen in the high-end property market, suggesting it is "not all doom and gloom".
He said that the situation is "quite incredible" when not so long ago more expensive properties were being snapped up for 20 to 25 per cent under the asking price.
The Knight Frank Prime Country House index from April found that prime country house prices fell by an average of 4.7 per cent in the first quarter of 2009.
See Also: Property News (5994)
Date Published: 03 July 2009
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