Southern property protected from price plummet, expert says

Properties on plots of land in the south of England are likely to be the "most protected" in the market, according to 1st Asset.

Andy Smith, managing director of the property investment specialists, said that the slowdown in the housing market was a result of people not selling rather than a lack of buyers.

Mr Smith added that it is only those "who are forced through job relocation" that are deciding to sell their homes.

Halifax reported earlier this month that eight of the ten most expensive rural local authorities in the UK were located in the south-east.

Furthermore, in August Knight Frank disclosed that, although property price in central London were showing negative annual growth for the first time since 2003, the super-prime sector was showing an increase.

The super-prime sector - described as houses worth in excess of £10 million - saw an annual increase of 19 per cent and a rise of almost three per cent in August.