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KFH sells property above asking price

London-based agency Kinleigh Folkard & Hayward has agreed a sale at £5,000 above the property’s asking price.

James Brooks (pictured), sales manager at the agency’s Streatham branch, says: “A one-bedroom flat had been on the market at £175,000 for a week. A sale has now been agreed at £180,000 due to competition between rival buyers.”

Brooks also claims that the office has seen a 20% increase buyer enquiries and, consequently, a 15% increase in sales, which has helped to stabilise prices in the area.

KFH’s Clapham office, which has seen an increase in first-time buyers, cash buyers and parents buying property for children, is also receiving offers close to property asking prices.

Katharine Wells, sales manager at the branch, says: “Buyers are realising that they are better off investing in property than they are having their savings sitting in the bank earning a negligible rate of interest, and are adjusting their offers accordingly.

“We have seen one property on the market at £275,000, which in one day received an offer at the asking price, [where the buyer was] asking the vendor to pay the Stamp Duty, one at £260,000 and one at £270,000. If vendors price correctly, their property will sell.”

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