National Homebuyers: 'Annual inflation falls sharply'
The Department for Communities and Local Government (DCLG) has published its house price index, revealing that inflation was just 9.1 per cent in the month.
[UKPRwire, Tue Feb 19 2008] Annual house price inflation fell in December, potentially leading to an increase in the number of people seeking a fast property sale.
That is down on the 9.7 per cent figure recorded in November and is a clear sign that things are looking less than healthy in the UK housing market.
Even people in London may be forced to make a fast property sale as inflation in the capital fell from 14.5 per cent to 13.5 per cent.
According to the DCLG, December represents the second consecutive month of falls in annual house price inflation.
People with bungalows will be particularly concerned, and many may now consider making a fast property sale, as the typical property of this type lost 2.6 per cent of its value between November and December.
Fast property sale expert Julian King adds, "As property prices continue to fall - according to some analysts by up to £50 a day, the homeseller is forced into finding alternative ways of selling their home.
"The length of time a property is spending on the market before being sold is likely to reach ten weeks".
Mr King is a director of National Homebuyers, the UK's leading quick property sale firm. The company does not require the vendor to have a Hips pack in place and completes at a timescale to suit the vendor. The company is also the leading provider of mortgage rescue solutions such as Sell and Rent Back.
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