Prices fall in 90 per cent of regions

House prices slumped across England and Wales in November, as fears grow that a major correction is on the cards.

[UKPRwire, Wed Nov 21 2007] Rightmove has published its house price index, revealing that the average property price fell by 0.7 per cent between October and November.

It is bad news if you are looking for someone to buy your property and is likely to lead to many people seeking a quick property sale in order to avoid further price drops.

Almost every region in England and Wales, excluding London, saw prices fall month-on-month.

The West Midlands was the worst hit, with prices plummeting by 2.4 per cent, with the south-east following (minus two per cent).

Yorkshire and Humberside also suffered big losses (-1.9 per cent), followed by the north-west (-1.7 per cent), the south-west (-1.6 per cent), the north (-1.4 per cent), the East Midlands and East Anglia (both -0.6 per cent) and Wales (-0.1 per cent).

Miles Shipside, commercial director at Rightmove, had this advice for anyone considering selling their property.

"If you have to sell, then seriously consider dropping your price and taking an offer now rather than holding out," he said.

"You could end up being offered even less in a few months' time," added Mr Shipside.

Fast property sale expert Julian King adds, "National Homebuyers speak to thousands of people each week who cannot afford the wait on the open market.

"We arrange an immediate offer on any property surveyed, assisting thousands of homeowners with their quick property sale concerns".

Mr King is a director of National Homebuyers, the UK's leading quick house sale company, guaranteeing to make an offer to sell your house for cash.

"The market will further deteriorate in the coming months", Mr King continues.

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