7 Jan

High-end property market to remain 'buoyant'

High-end property market to remain 'buoyant'

The high-end property market will buck the downturn during 2009, it has been claimed.

According to Surrey estate agency Barton Wyatt, many professionals currently living in London will move to high-end properties in counties such as Surrey in 2009, as the capital's house prices have dropped less than those around the UK and housing per sq ft is cheaper in the suburbs.

Combined with the advantages of more living and garden space, areas in Surrey such as Virginia Water are likely to see an influx of new residents, the agency stated.

James Wyatt, senior partner at Barton Wyatt, remarked that this end of the market should remain buoyant during the coming year.

"The Virginia Water area has proved itself to be the ideal place for corporate and international businessmen and it is unlikely their spending habits will be altered completely," he said.

Furthermore, Barton Wyatt added that cash buyers such as members of the international business community are unlikely to be affected by the economic slowdown.

Earlier this week, the south-east was named by HBOS as the most popular place to relocate to from elsewhere in the UK over the last ten years.ADNFCR-1222-ID-18960061-ADNFCR

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