1 Sep

'The worst is over' for prime property

'The worst is over' for prime property

It would now appear that the worst is over for prime property, although "you never quite know what's going to happen", one property expert has asserted.

Karen Goodin, a partner at London-based independent property acquisition agency Black Brick, said that the firm is encountering competition for every property that it attempts to gain on behalf of a client, which has led to some good prices being achieved.

Her comments follow the release of figures from the Land Registry, which revealed that the number of higher-end properties being sold has fallen dramatically over the last year.

"We've seen gazumping and we've been in situations where we have to do sealed bids, which is really what you saw before when the market was really flying," said Ms Goodin.

She added that in cases where there is only one person chasing the property and the seller needs to sell, the buyer tends to get it at a lower price, but that she had seen lots of competition nevertheless.


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