Prime property in London is being placed on the market for a higher price than in previous months, it has been reported.

The latest Primelocation.com study has shown that the average asking price for this type of home rose 0.27 per cent between April and May, which represented a rise of £3,591.

It comes after the Royal Institution of Chartered Surveyors published research this week that said the gap between asking and selling prices across the UK has narrowed.

Andrew Smith, the company's head of research, revealed that asking prices for prime property in the capital have risen five times in the last half-year period.

He explained: "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."

The Primelocation.com representative also predicted that landlords with prime rental properties will soon put their properties up for sale "in expectation of interest from cash-rich investors and genuine buyers with finance in place".

Any upturn in property market activity may increase the need for safe storage services, as many people find the facilities useful when moving home.

Written by Ben Sillitoe