Monday, April 18, 2005

Buyers And Sellers Face Off In Britain

ThisIsLondon has some reports on the housing market in the UK and it sounds like the seller versus buyer standoff is coming to a head. "The average asking price in England and Wales stands at a staggering £197,539 - £1,341 higher than the previous record set last July."

"The plain fact is that sellers are being greedy in the context of current market conditions. These record asking prices aren't reflecting the fact that we have been in a buyers' market for the last nine months."

"The number of properties on estate agents' books is about 29% higher than this time last year."

In London the buyers apparently have won out. "Some sellers are having a tough time. If a spring market can't liven things up, then they are doing the right thing by reducing asking prices."

3 Comments:

At 11:18 PM, Anonymous Anonymous said...

When you talk real estate prices in London, you can really talk about castles in the air. The thing sustains itself by force of inertia called stupidity. Yes you can be British and completely irrationnal.

 
At 11:23 PM, Blogger Ben Jones said...

anon,
Please check back and keep us updated on the UK. Thank you.

 
At 3:29 PM, Blogger 'Thought & Humor' said...

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'Thought & Humor'
Cyber-Humor & Cyber-Thought
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