A real estate agent can make the process of selling and buying a lot easier. Such is the case of the expert, Nick Millican. If you’re looking to purchase property in London, you may need to reconsider the move.

Up to now, you may have noticed that most sellers have been offering staggering discounts in today´s London’s post-pandemic real estate market to match the buyers’ low purchase prices. Unfortunately, according to Nick Millican, an experienced real estate figure, the markdowns are on a steady decline.

In his view, more and more homes in the bustling United Kingdom’s capital are achieving almost 100% of their closing asking prices, making it the best performance since the first quarter of 2022. Nick Millican has also noted that homes in South East London are getting into the market with very high prices, making it necessary for real estate agents to find novel market approaches to remain successful.

The real estate agent maintains that there will always be buyers when property prices are priced sensibly. “The only reason we’re seeing flats exceeding asking prices is because rents are extremely high,” he says (Bmmagazine).

“During the Covid-19 pandemic, people were used to paying high rents to get access to extra home amenities, such as gardens, and that’s why flats are surpassing asking prices.” The expert also notes that London is the only place where the number of homes for sale is lower than it was during this period last year. There has been a slight change in balance, and competition has increased; Nick Millican, however, expects the prices of houses to flatline sometime this year and the total number of transactions involving homes to surge.