Fair house pricing in London "vital"
Friday, 14th November 2008

It is "vital" for sellers in London to price their property properly, according to industry specialist FindaProperty.com.

Content editor at the company Michael O'Flynn said that although it was a difficult thing for many sellers to hear, it was a buyer's market and as such, people had to be competitive against others in the capital in order to make a return.

He referred to a survey taken out by Hometrack which highlighted that although house prices had dropped to their lowest level ever, sale agreement numbers had risen sharply.

Mr O'Flynn continued: "The upside for sellers is that they are usually buyers too so what they lose on their property they will hopefully gain back on the place they buy."

This month, Knight Frank revealed that property prices in London had dropped by 3.9 per cent in October, the fastest decline it had ever recorded.