FURTHER to Mr Waite's letter "High prices not down to owners" (March 27) and his response to a quote by me in the article "York seeing a property market boom again" (March 23) - I dispute Mr Waite's claim that prices are pushed up by estate agents.
The market is down to supply and demand.
In many cases throughout my career, where we have perhaps priced a property more realistically, we have had a number of offers over and above the asking price from prospective purchasers keen to secure the property.
I agree with Mr Waite's final paragraph that owners will not benefit from these rises unless they cash their properties in and this increasingly makes it more difficult for first-time buyers to get on to the property ladder.
I understand that there are a number of schemes now in place to encourage more affordable housing, which hopefully will filter through.
I do, however, reiterate that prices are down to supply and demand and if I were to deliberately put a property on at less than its market value, it would soon find its way back up to the correct market level.
Ben J Hudson,
Hudson Moody Estate Agents,
High Petergate,
York.
Updated: 09:04 Saturday, April 01, 2006
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