Our property search agents explore what is really going on in the property market.
Prime London values have continued to fall but the averages mask huge variation in performance, with early signs that the market for the best properties is bottoming out.
In farming terms, when agents talk about the value of land they broadly categorise it as 'arable', 'pasture' or 'wood', with the best arable being the most valuable and wood/scrub the least.
Tim Corfield is one of the founders of Corfield Morris. Led by former directors of Sotheby's, Corfield Morris advises clients on the sourcing and acquisition of works of art, fine furniture and other cultural assets.
The recent court case between HMRC and the developers of Battersea Power Station - which is the latter lost, ending up with a stamp duty bill of more than £50m - started me thinking.