| Topic: | Re:Re:Re:Property sales | |
| Posted by: | Fiona Campbell | |
| Date/Time: | 19/03/08 13:49:00 |
| We have been looking at properties in Chiswick since last summer and the market has definitely been affected by our current down turn and I don't think this is purely media hype. Last summer prices were getting completely out of hand and properties were going for ridiculous prices and often over the actual asking price. Then Northern Rock came along and the market rapidly ground to a halt. Most of the estate agents would say that from the end of October to the end of February the market was pretty much dead. All the overpriced or more difficult properties to sell remained on the market but there were very few purchasers about. Come March things started to pick up again with more properties coming onto the market but most properties are now being reduced in price and definitely going for significantly lower than the asking price. In my experience the majority of people selling at the moment appear to be leaving London. I think prices will continue to slowly come down over the next 6-12 months, I doubt it will be a crash but prices will definitely not go up. |