Earlier this year I was approached by a number of contacts and clients looking to find a deal…they were sure many could be found as property owners must be feeling the pinch and are therefore “distressed”. This was not case especially in central London and I doubt this will ever be the situation.

Yes, property prices are being amended and values have fallen. This does not mean the seller is distressed just sensible and understanding of current market conditions. Over the course of the next 2-3 months the property market will reposition itself in all locations and property will look better value.

I am sure property buyers will not aggressively chase a purchase (pay a premium unless the property is exceptional) and vendors must understand this. Where stock is sensibly priced sales are being agreed. There is no need to wait until 2011 as some vendors will see an opportunity to sell whish stock levels remain low.