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High-end property ahead, Low-end behind

Estate agents claim Lower-end is faring a lot worse than high-end property

High-end property is doing better than the lower-end, according to many estate agents. 6 months back yourrightmove.co.uk reported that this would be among the predictions for 2010 property changes.

So why is this change occuring? Supply demand is the main cause. With many looking for a high end property and few on the market, the prices are being forced up.

Estate agents claim Lower-end is faring a lot worse than high-end property

Chester Square - high-end property

London is one of the main areas effected. The most expensive street in England is Chester Square in London, where the average property is worth £6,596,000. It is the second consecutive year that Chester Square has been in the number one spot and the most recently sold property in the area went for £7 million.

The rankings also indicated that out of the 20 top streets, 12 are situated in The Royal Borough of Kensington and Chelsea.

In total contrast, builders can barely give away their properties to first time buyers at this time.

posted by Zane in Buying,Estate Agents,For Sale,Home,Houses,Property,Recession,Rightmove and have No Comments

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