Foreign property investors are spreading their wings and have started buying large properties outside of London in North Surrey, according to Knight Frank.

It reported that it has sold £158m worth of top end property in North Surrey since the 1st of April this year, with a minimum purchse price of £4m.

Buyer analysis reveals that 43% of buyers were from Russia and the Commonwealth of Independent States (CIS), 32% from the UK, 15% from the rest of Europe, 5% from the Middle East and 5% from India.

New or newly refurbished properties that have sold across North Surrey since 1st April have commanded an average price per square foot of £713.

The buyer profile has shown a variety of income sources, with finance and property being the principal ones.

Knight Frank consider the North Surrey region to be in the M3/A3 corridor either side of the M25. The prestigious areas that North Surrey incorporates include St George's Hill, Wentworth, Esher, Cobham, Oxshott, Ascot, Sunningdale, Windlesham, Englefield Green, Richmond and Kingston-upon-Thames.

James Cleland, partner in Knight Frank’s Country Department, responsible for prime sales in North Surrey, comments: “As with the majority of the UK, the market in North Surrey was extremely difficult during the credit crunch. The number of top end sales dropped dramatically and those vendors who had to sell were confronted with accepting significantly reduced prices. The market has undoubtedly made a very significant recovery in the last four months with strong demand. The fact that seven properties have exchanged contracts at figures in excess of £10m, with a further three under offer, clearly illustrates this.