GOOD NEWS ON HOUSE PRICES: "Wonder why you can't get on the property ladder? Because agents are no longer interested in selling to YOU"

Link to Evening Standard

"Alex Weekes, 26, was until last year an agent at the firm, Ludlow Thompson — a major property player which claims to have let and sold £1 billion worth of property in London in 2012. Buyers chasing popular properties have long suspected that they are being outfaced by wealthy investors for the homes  they want. But Weekes’s story, and investigations by the Standard, can reveal that agents have responded to the booming rental market by making investment buyers a conscious priority over ordinary buyers looking to own and occupy.

Weekes said:

“They showed us why it is better to sell to landlords who you can then rent the flats or houses for. The idea was that we would manage the property, which gets higher fees and means we know when it is going on the market again. It worked really well, I know that there were more properties to instruct.”