No need to hit London panic button
The latest sale figures from eMoov found that sold prices are still achieving 99% of asking price.
And during January to March eMoov sales figures showed London property prices achieving an average of 102%.
During this time their most successful sale was a flat on Battersea Park Road, where they achieved £75,000 (17%) over the asking price (£450,000).
And eMoov has seen London sales volumes increase during the summer as talk of the cooling market began to surface.
Russell Quirk, CEO of eMoov.co.uk, said: “Our sales statistics show both a decline in demand for property in London and an increase in inventory as sellers look to cash in before the potential drop in house prices.
“The fact is, there are now more properties available for buyers, so they can be more selective about offering. The power shift has moved slightly, and we face a more balanced market.
“However, we continue to outperform our high street competitors.”