So in your opinion, so you think 4 bedroom semi detached houses of similar or better quality than the house in question will start to sell at £600,000?

I read a news article today on the internet where RICs were saying house sale numbers falling further and this signals a likely drop in prices.

This sale kind of indicates the opposite and its strange as it seems a one off.

I haven't seen any other similar houses in HOP at over £600,000.

Also I'm not too sure what you mean when you say "Mortgage valuations rarely match sales prices but that doesn't necessarily mean a mortgage wont be approved, the lender will consider a number of other factors."

My understanding was that if a lender values a house at say x, and they lend 75% of the value then they will lend 75% of x.

If the seller wants to get a sale at a higher price the buyer either finds the additional money or pulls out. I guess its a contributing factor of why many sales don't go through right now. If the mortgage companies want such big deposits from buyers, where will the extra money come from?