The bottom of the market - in terms of low property prices - is "very close", according to the director of property consultants Smith Gore.

Robert Pritchard said that interest in bricks and mortar in the Cotswolds, as well as London and the home counties, is beginning to pick up after a slump in the sector over the last year.

"Values have been realigned which has stimulated buyer confidence and the international buyer is coming forward motivated by the weakness of sterling and value for money,"he explained.

Evidence suggests the bottom of the market is approaching, he added.

Mr Pritchard also indicated that the cost of property in London and the south-east has an effect on Cotswold prices.

Earlier this month, the Knight Frank Prime Country House index found that prime country house prices dropped by an average of 4.7 per cent in the first three months of this year.

Written by Sarah Field

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