Partners at estate agency Knight Frank saw their average salary soar by 47 per cent in the last financial year, it has been revealed.

Figures released by the firm revealed that the average partner took home £1.10 million in the year ending April 30th 2007, with the lowest pay packet coming it at £400,000 and the highest totalling £1.8 million.

Profits at the firm, which specialise in high-end properties, also rose dramatically to £59.6 million, compared to the £35.7 million it scooped the previous year.

The number of staff employed also increased, rising from 2,731 to 2,979.

With figures from major institutions indicating that the UK housing market is cooling after many years of climbing prices, Nick Thomlinson, senior partner and chairman of the Knight Frank Group, said the firm was well positioned to deal with it.

"Whilst watchful of the current macro-economic conditions, our diversity and breadth of service offerings will help us to be well placed to withstand market cycles," he commented.

As well as its interests in the UK, the company has a presence in the residential markets of Asia, Australia, the Caribbean and Africa.