Property sellers 'should consider the building's pecking order'

Posted: 20 Jul 2009 08:40:04 GMT

People looking to sell flats in London should consider the "pecking order" of their building, according to a Telegraph writer.

Anna Tyzack, who is currently trying to sell a basement flat, said that sometimes, even properties in the same building can appeal to different types of buyers.

Young professionals, for example, are keen to live in flats at the top of a building, while first-floor properties - which tend to have the largest windows and highest ceilings - often command the highest rental incomes.

Basement flats, she explained, tend to be around 15 per cent cheaper than their equivalent-sized properties elsewhere and are often the preferred choice of primary country-dwellers who only need to stay in the City for a few nights each week.

The head of sales at property portal fish4homes recently observed that the gap between the asking and selling price of a property is closing.

Stewart Black said sellers should "be more bullish about holding out for the best price" on properties they wish to profit from.

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