Properties available above £1M price range are showing evidence of prime properties trading above market guide price.  This is due to the South of the UK regional differences.

Also strong demand for land from a range of buyers with prices rising significantly in the last quarter.

The Southern region of the UK which has seen a 66% rise year on year.

Following  the 2010 election more certainty in the UK economic encouraged vendors and buyers alike.

That said, as always, there is still a lack of best in class properties available across the board.

The Home Counties there is a lack of stock with more being available privately.  ‘The most active buyers are those making necessity purchases as they need to move.  For this reason alone demand remains strong across all prime areas in our region.

In Henley, Beaconsfield, Virginia Water, Weybridge, Esher, Guildford, Petworth and the Midhurst triangle, the upper end of the property market is achieving over and above guide prices.

An example is a house near Guildford which recently attracted competitive bidding in excess of the £2.85 million guide price.  This was before it even reached market formally.

However, in Somerset, Wiltshire, West Berkshire, Hampshire, and Dorset there is a shortage of supply. But this is expected to change and we’ll know more after the summer of 2010.