London becomes tough place to sell

london-touch-to-sell-propertyDespite a strong demand, London is the hardest place to sell a house in the UK, according to a recent research. Among the 10 slowest selling postcodes three are to be found within the M25 and the capital is accountable for all six areas found to be the hardest to sell a property in. House sellers in London have a much tough job than on comparing with the sellers in North of England.

This is has been an extreme cry from the beginning of this year, when even the least capable properties were being instantly sold up for huge sums, and an enormous number of homes were selling for their asking price or even more. The fact that buyers aren’t satisfied with these properties explains how buyers and sellers have reacted to price rises.

In some cases this is because sellers are pricing properties over-optimistic – factoring in the next couple of months of price rises. Buyers looking round feel they are overpriced. In other cases, buyers are not being practical. Prices have risen so fast that they have moved on since, they first thought about their budget and their requirements. It means that they can no longer get what they want for the price they expect. It takes time and a number of viewings to lower their expectations.

This is why properties are selling much well in areas where price rises have been much slower, than the properties in Capital. Carlisle was named as the easiest place to sell with just six viewings before the property is snapped up.

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