Many people may wish to seek a fast property sale after house prices fell across the UK.
[UKPRwire, Wed Apr 23 2008] Prices in England and Wales have fallen by 0.7 per cent since mid-March, with Scottish housing losing 2.9 per cent of its value in the last six months.
The figures, published by website Home, paint a bleak picture for the UK housing market and things look set to get worse.
Doug Shephard from Home suggested that people may want to seek a fast property sale as prices are certain to fall further.
"If you starve the market of a third of buyers through higher rates then it creates a self-fulfilling prophecy of price cuts," said Mr Shephard.
"Even the most conservative estimates point to a ten per cent drop in prices over the next 12 months.
"These figures show that we are on course for a at least that level of reduction in prices," he added.
The firm pointed out that prices fell by £1,791 month-on-month.
Chris Newman of the UK's leading fast property buyer National Homebuyers says the fall in property prices is nothing new. "We speak to thousands of people each month who need a quick property sale to maximise the value in their home.
"Homeowners have been genuinely worried about the continued fall in property prices for sometime and continue to worry over the amount of value that is being wiped off the face of their property each day if they do not sell their property fast".
Mr Newman is a director of the UK's leading fast home buyer, National Homebuyers. The company provides repossession and mortgage rescue solutions such as 'Sell and Rent Back'.
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