Realistic pricing continues to underpin the market, according to Hamptons International who say buyers will not overpay, despite the shortage of quality stock.

Put quite simply says the firm, overpriced properties are sticking on the market. Only exceptional properties in under-supplied areas are exceeding their asking prices, and it is those accurately priced properties that are finding buyers quickest.

Andrew Phillips, Hamptons Kensington office said, “There is no doubt that buyers are very focused where vendors are realistic with their pricing. These properties are selling at a regular rate.”

Many of Hamptons vendors have followed advice and reviewed their pricing in light of the current market and these properties are quickly attracting strong interest.

Chris Neve, Hamptons South East director said, “Prices have adjusted over the last 6 weeks from the ‘hyped’ highs of the early Spring, in some cases by as much as 15%. In most cases these properties are finding buyers very quickly.”

Hamptons predict a buoyant autumn

Hamptons say other than relatively low interest rates and strong economic growth forecasts, they highlight five reasons for optimism for the autumn:

• Withdrawn properties are 25% lower than last July.
• Fall-throughs are 30% lower.
• The top end is normally the first to be hit by any downturn in confidence, yet our Country House Departments report continuing strong demand.
• The re-emergence of investor buyers.
• Nearly 50% of Market Appraisals are “still deciding”.