HiP CEO Kai Peeters was asked to comment on the recent news that well off Mayfair, London and less well off Sunderland are the hardest places to sell your home, in terms of length of time on the market. Here is what he said:
“On paper, the problems faced by the property market in Mayfair and Sunderland are the same.
“However, these are two separate problems that ultimately one down to liquidity. In Mayfair, houses are too expensive and only accessible to the super-rich, with a lot of property tied up in foreign money. In Sunderland, the problem is little demand from investors and buyers due to reduced capital.”
This article appeared in The Daily Mirror on 14th July. The online version, being shorter, does not have Kai’s quote. Read it here: https://www.mirror.co.uk/money/house-prices-sellers-worst-12910646