London

Other experts said the rapid rise in prices meant that some buyers would not, or could not, enter the market. "In well over 30 years I've seen this countless times, when competing agents force asking prices so high that buyers just say no thanks," said Ed Mead, director of Douglas & Gordon. "There always follows a three-month hiatus while sellers and buyers stand off. We're in the third month and sellers appear to be blinking as the fall off in asking prices shows."