For what it's worth

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The Independent Online
For what it's worth

Nearly 8,000 sellers have been persuaded to drop the price of their houses for Royal Insurance's "first ever" autumn property sale, which runs until 2 October. The Royal, whose 440-strong estate agency network includes such names as Barnard Marcus, Allen & Harris, and Manners & Harrison, says it is following the principle of the high street by reducing prices to attract customers. The only problem with this argument is that houses are like shares, rather than tins of beans; people buy when they see prices rising, rather than falling. However, those already in the market should give the Royal's windows a closer look this weekend.

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