Drop it like it’s hot

Property Eye was going to buy a London property, but the price was too high – higher than Snoop Dogg on his herbals, according to The Kushman Group’s executive director Kundan Bhaduri.

Ever the Snoop Dogg fan, Eye particularly enjoyed Bhaduri’s comments following Halifax’s findings that showed March house prices rose 0.8%.

Eye hears it is taking 44-plus days to shift property in the capital and Bhaduri says would-be sellers in central London seem to be in no hurry to shift their assets, “holding out for offers so high they could make Elon Musk’s bank account look like pocket change”.

Sellers of property remain in a strong position, but Eye understands they can no longer test the market at higher prices and align with those achieved last year.

The good news is that the supply of London properties is picking up and buyers and sellers are finally seeing eye to eye on pricing.

But if Eye is ever going to buy property in London, sellers will need to take the price and “drop it like it’s hot”, as Snoop would say.