Asking prices for prime properties – the top quarter of the market by value – are rising by £74 a day, according to the latest ‘prime index’ from property website PrimeLocation.com.

This means an increase in prime home owners’ wealth by an average of £20,000 since the beginning of this year.

The average asking price for a prime property in the UK is now £474,469, up by £20,193 (4.4%) or £74 a day since January. In the same period, asking prices for all properties have increased by £3,636 (1.7%), or £13 a day.

The difference in asking prices between the two bands has widened significantly over the last quarter as prime properties have increased while the general market has declined. For example, during October prime asking prices increased by 0.5% while in the general market they fell 0.1%.

Nigel Lewis, property analyst at PrimeLocation.com said: “Prime properties are driving the market at the moment