Property News: Pricing Accordingly
Fri 01 Feb 2013
William Hughes-Onslow, Manager at Marsh & Parsons, Chelsea and South Kensington.
Once the uncertainties surrounding property related tax implications were clarified in Decembers budget announcement, we saw a marked increase in both the number of buyers and sellers who had previously been 'sitting on the fence'. We are taking on a healthier level of new instructions compared to 2012, but this still isn't quite quenching current buyer demand and we expect a continued underpinning of prices in the months ahead. That said, being too optimistic with asking prices can be detrimental to sellers as savvy buyers know what to expect for their money. I anticipate a positive, stable year ahead with potential growth of around 5-7%.