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Whilst nobody would deny it is tough going to sell your home at the moment, I am happy to say that there are still buyers out there if your property is at the right price.

At Mundys, for instance, we have experienced quite a positive November and December, with many sales going through. One of the reasons for this is that prices have now dropped significantly, generally between 15% and 20%. Prospective buyers are therefore quite rightly looking to purchase now. As I have always said, it is always a dangerous game to try and second guess the exact bottom of the market.

Whilst nobody would deny it is tough going to sell your home at the moment, I am happy to say that there are still buyers out there if your property is at the right price.

At Mundys, for instance, we have experienced quite a positive November and December, with many sales going through. One of the reasons for this is that prices have now dropped significantly, generally between 15% and 20%. Prospective buyers are therefore quite rightly looking to purchase now. As I have always said, it is always a dangerous game to try and second guess the exact bottom of the market.

Property prices may fall again this year, but with interest rates falling and mortgage lending gradually coming back on stream, at some stage the market will stabilise. In those circumstances the real bargains disappear very quickly. Over the next few years prices may well rise again significantly, especially considering the very low building of new homes over 2 years plus the overall supply and demand situation.

There is no doubt things will remain tough in the next few months with may unfortunate people losing their jobs, but if you are in secure employment, it still remains, for instance, a perfectly good time to move if you are going up market. Your home may have gone down from say £200,000 to £160,000, but the one you want to buy has reduced from £300,000 to £240,000. Plus in a poor market it is often much easier to secure a home in a sought after area which will rise greatly as soon as the market gets better.

If sellers are thinking about selling in the New Year, it still remains crucial to present a home for sale in the best possible manner so make sure the exterior is freshly painted and attractive, the front garden and paths are well maintained and important rooms such as kitchens and bathrooms are well presented. Buyers will have a lot of choice next year so the more modern and attractive the home, the better.

However, the most crucial aspect is still to get trustworthy advice and ask the right price.

Philip Barnatt MRICS Senior Partner Mundys