Property investors appear to be the mirror image of Oscar Wilde’s cynic: they know the value of everything and the price of nothing.
Everyone in property obsesses about theoretical valuations — developers, bankers, estate agents, insurers and ordinary housebuyers.
But, as any homeowner desperate to complete a sale knows, the only true measure of a property’s worth is the price someone else will pay for it. That is still mostly determined by those capricious emotional twins greed and fear.
