The Royal Institution of Chartered Surveyors (Rics) has published figures which may lead to a surge in people seeking a fast property sale
[UKPRwire, Wed Apr 23 2008] According to Rics, 78.5 per cent more chartered surveyors reported a fall rather than a rise in house prices in March.
That is the lowest level recorded since the survey was first carried out in 1978.
The lack of confidence in the housing market is likely to lead to many people seeking a fast property sale.
Jeremy Leaf, Rics spokesman, said that things are not looking good for UK homeowners.
"Sentiment is at a very low ebb and will continue to remain depressed while the economy suffers from this unique liquidity blight," he commented.
"The slowdown in prices is directly attributable to a lack of available finance which has hit demand," added Mr Leaf.
Halifax recently revealed that house prices fell by 2.5 per cent in March.
Julian King of National Homebuyers adds, "Property prices have been falling in pockets across the UK for over a year.
"People looking for a quick property sale are encouraged to look at alternatives to the open market, as the delays, costs, uncertainties and likelihood of the chain collapsing are too precarious for most sellers".
Mr King is a director of the UK's leading quick house sale solution provider, National Homebuyers. The company provides repossession and mortgage rescue solutions such as 'Sell and Rent Back'. Sell and Rent Back is where the homeowner sells their property for up to market value and rents it back for an agreed period of time.
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