For what it's worth

For what it's worth

"The constant barrage of negative media coverage in newspapers and on television is the single most important factor responsible for damaging the confidence of would-be buyers," says Simon Agace, chairman of the Winkworth chain in London. Mr Agace is one of many London agents exasperated that the price falls reported by the Halifax and Nationwide building societies are seen to apply everywhere. Prices are certainly not falling in the capital, he says. And he is not just talking about Kensington and Belgravia. The effect of London's importance as an international city is felt as far out as Finchley, Ealing and Blackheath, reports Mr Agace. However, he admits that asking prices have fallen this year, in response to cautious buyers, but says the sales prices ultimately paid remain stable. The strongest sector of the market is in family houses priced from pounds 150,000 to pounds 450,000.