Higher end of property market is performing well

Residential landlords who have family-sized homes in their portfolio could be among those noticing a rise in demand for their properties, it has been suggested.

Estate agent has claimed the higher end of the property market is currently outperforming the lower end.

According to the firm, larger properties are more in demand and are therefore selling quicker and at higher prices.

Nigel Ellis, Prickett & Ellis director, said the first-time buyer market is "saturated" with properties, which has driven prices down.

Mr Ellis said those contemplating selling larger properties had the potential to cash-in on the current market.

"Asking prices today are actually ten per cent more than they were a year ago. Which doesn't mean the values are ten per cent more; there are an awful lot coming on at really silly prices because there is nothing on the market. Eventually they'll sell because there is nothing else to buy," he said.

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