Property consultancy offers advice on negotiating price

Posted: 18 May 2009 11:45:00 GMT

Those selling property may be interested in the latest comments from housing industry consultancy Ducalian.

Sales and marketing manager at the group, Timothy Lambert, said that buyers tend to have more negotiating power when house prices are on a downward spiral.

He suggested that it is easier to negotiate during a downturn than it is when property prices start moving in the other direction.

Indeed, some vendors may want to avoid the slow negotiating process by cutting out estate agents and trying to sell their home online.

Mr Lambert remarked: "We stand by our conviction that now is the time to buy for investments, first-time purchases and those trading up. If you are trading down, hold, hold, hold."

The cost of property has dropped by 15 per cent over the last year, according to Nationwide Building Society, and the Ducalian representative predicted this pattern will continue for another six to nine months.


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