We slashed home from £750,000 to £695,000 in four months

THE Gray family have reduced the asking price of their house near Clapham Common to a level it would have fetched at the end of 2006 after only one "comedy offer" was made on it in four months.

Anna Gray, 39, and her husband Scott, 34, are selling the four-bedroom Victorian property in Wakehurst Road for £695,000, down from the original asking price in September of £750,000. They bought it in April 2004 for £550,000.

The couple, who have two young children, live in Spain but want to sell their London property to fund a move back to Britain to live in the countryside near Bath.

Mrs Gray said: "We assumed we'd be able to sell easily. While we've been out in Spain the past four years friends on our street have been selling similar properties for nearly a million. You just get used to houses making money. It wasn't a business or a plan, it's just how it's been.

"We're not depressed our home has lost value because we know we'll be able to buy something in the country cheaper than we would have done a year ago. It evens out, we're realistic that the market as a whole is going down."

The Gray's house is on sale with www.douglasandgordon.com