London property price gap

  • Author: David Crosby
  • Posted on: 18th November 2014
  • Posted in: Blog

This article about the gap between property asking prices in London and the reality is an interesting one in so much as the findings do tally to some degree with some recent feedback we have been getting from local estate agents in Brighton & Hove with whom we work closely with. Perhaps it is down to a normal market correction, a fear of rising interest rates or even basic instability as we near 2015 and a General Election, with all the uncertainties that no doubt could arise from that.

Property has always been very much a case of trying to second guess when is the optimum time to buy or sell, but hopefully the ‘standoff’ raised in this article, if it does actually exist, is one that naturally corrects itself with the additional input and help of everyone involved in the property industry also trying to encourage that common sense be used on all sides.

For those buying a home to live in, rather than as an asset to turn over quickly at a profit, recognising what is a fair price to pay is essential. Equally, those selling need to acknowledge that buyers are more fearful of overpaying at the moment and so try to find a price that is good but still realistic and therefore one a buyer can live with and pay. Ultimately the market ‘sets’ the price to be paid where property is concerned but reputable estate agents, who know their local market inside and out from years of experience, have, and do, play a massive role here in ensuring pricing levels are correctly set to keep the wheels turning. It is to those experts prospective customers should be speaking to in the current market if they are serious about both selling or buying.

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