Jon

I'm not sure I'm missing the point at all, I just might have not explained myself as eloquently as I could have.

What I mean is the property buyers are often willing to pay an amount for a property of x, until the valuer says it is worth y. At this point the willing buyer then changes their mind and decides they are only prepared to pay y.

This is usually because they are very dependent on mortgage finance.

However I have also experienced cash buyers doing this very thing.

In these instances - nobody is getting 'ripped off' as the surveyor would have placed a true market value on the property, which keeps the market in check based on the current demographics.

HOP is definitely becoming more popular, however prices are still very much being reduced by surveyors and the market isn't anywhere near as strong as some people would lead you to believe.

Last month saw a 21% drop in mortgage approval rates (which is greater than the sum of two bank holidays).