My comments in this column just one month ago about a potentially more positive outlook for the UK property market and investment prospects were reinforced by the attendances at two major residential property events in April. As reported on page 40 there was certainly a more positive vibe at London's Excel Centre for the Property Investor Show, whilst attendance figures at the Place in The Sun overseas property event at Olympia were healthier than in recent years.

So it certainly appears that there are some grounds for optimism despite the ongoing effects of public sector job cuts and it does seem that at long last many property investors and owner-occupier buyers are regaining confidence in the market.

The most recent auction by Savills in London was also very well attended and as we will be reporting in more detail next month, the prices paid by successful bidders at this auction and some others of late certainly reflect the current buoyancy and general air of positivity in respect of the London and south east England residential markets. A number of key trade contacts and experienced subscribers have regularly been telling me that trading margins were become gradually tighter over the last year, with sellers becoming more demanding and that in and around London it has become more difficult to source good stock at 'sensible' prices.