The prime property market in London will be stimulated by the actions of private landlords, it has been predicted.

A number of landlords will put homes of this genre up for sale in the near future, according to Primelocation.com's head of research Andrew Smith.

He said that they will do so "in expectation of interest from cash-rich investors and genuine buyers with finance in place".

Mr Smith's comments come after his company revealed that asking prices for prime London property increased in May.

They were up 0.27 per cent (or £3,591) on the reported figure for April, according to the survey.

Reflecting on price rises in individual areas of London, he said: "Prices over the month rose in three of London's five sub-regions.

"North-west London (1.48 per cent) and south-west London (0.99 per cent) recorded the largest price rises."

Meanwhile, Royal Institution of Chartered Surveyors findings released earlier this week indicated that the gap between property asking and selling prices has narrowed of late.

Written by Sarah Field
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