High-end property market performing well
Homeowners who have invested in a bespoke conservatory and elevated the status of their property to high-end may be pleased by the latest news from Prickett & Ellis.
The firm suggested that the higher end of the property market is doing better than the lower end and that this is mainly due to a lack of available top quality homes.
Director Nigel Ellis explained that high demand and low supply is causing prices to rise, while the bottom end of the market is saturated, causing prices to remain stagnant or fall.
"For us the middle [rung] is the family houses ... [and] asking prices today are actually ten per cent more than they were a year ago," he revealed.
Mr Ellis added that while many of the high and middle-end properties are hitting the market at asking prices way above their true worth, many will still sell due to the lack of availability of similar homes.
In other news, the most expensive street in England and Wales has been revealed as Chester Square in London by the Mouseprice Street Rankings for 2010, with the average home worth £6,596,000.
Posted by David Waxman
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