Re: Overpricing


A BBC programme the other night shows angry protesters outside Foxtons offices, Foxtons along with other agents were clearly blamed for seriously overpricing homes in London and suburbs and other upmarket locations in the UK, as well as a lot of other dirty tricks.

Foxtons’ agents individually get 10% of the Company’s high commission, it all sounds reminiscent of the not so nice larger Spanish agents.

Savills are guilty too of overpricing but are now saying the market will fall in the UK by 25% by Dec 2009, and they would be expected to show caution, whereas the economists are saying falls could now be as much as 40% in some areas.