The UK property market has reached the limit on home prices, according to Paul Smith, whose company is responsible for the Darlows, Haart, Felicity J Lord and Spicer McColl estate agent chains.
Smith warned of trouble in paradise, saying buyer demand had slumped and new registrations had fallen 46% in a month.
Data is already showing a slowdown in house price growth and transaction levels, he said. Sellers need to be much more realistic on asking prices.
