The Homes & Property section of The Standard has numerous articles that relate to the real estate market and related matters in the Greater London area as real estate expert Nick Millican. One of the prime articles that have been highlighted relate to the falling prices of homes. Each month there is an article about prices. 

While there are numerous individuals predicting prices falling over the next year, these articles contain specific statistics about what is actually happening in a designated time period, Nick Millica shares. This article discusses housing prices.

In December, sellers have had to cut their asking prices in order to attract buyers. As always, sellers can ask what they want but if there are no buyers, then the price is irrelevant. For December, asking prices in Greater London have fallen 0.9 per cent. Nick Millican informs that another key statistic for sellers is the amount of time it takes to sell a property. 

The average time is now 71 days, which is an increase. It has not taken that long since January 2023, Nick Millican comments. That delay leads to sellers cutting prices in order to facilitate a sale. As always, it is all about supply and demand. 

Right now, demand is weak so prices have to fall to encourage buyers to enter the market. As long as prices continue to fall, many buyers will wait to see how low the prices will go. In a market such as this, an expert such as Nick Millican can provide both potential buyers and sellers with excellent advice on how to navigate the changing environment.