We are all aware of the rapid and universal price falls in value of property over the last 12 months, due to lack of confidence in the market and the withdrawal of credit.

However, April and May have shown changes to these market conditions with the rate of price drops slowing, a trend we have seen in Strutt & Parker and confirmed across the market by the Royal Institution of Chartered Surveyors’ own figures. This indicates that the rapid early adjustment to house price values has in fact shortened the period over which house prices have fallen, and suggests that the bottom of the market is in sight. In the vernacular: 'first in, first out'.

Real estate is now looking good value, particularly at today's interest rates.

We see values stabilising in the coming months, as the number of sales rises and with a lack of new stock coming to the market, although continued problems in the banking sector and fears of redundancy indicate a slow rather than quick recovery in prices.

Our experience is that there is a market and property that is realistically priced in today's market is now selling. Setting the guide price at the right level remains vital to a successful sale.

For more information, please contact Michael Fiddes on 020 7629 7282.