Prices to fall markedly in 2008 according to National Homebuyers
Many homeowners may seek a fast property sale in 2008 before house prices fall any further.
[UKPRwire, Tue Feb 19 2008] According to Zone 4 Property, the average house price could fall by as much as five per cent in the year ahead.
With this in mind, many people will be keen to make a fast property sale in order to get as much money as they can for their houses.
"Demand for property in the UK has fallen and with it a decrease in property prices for the first time in over two years," said Grant Delmege from Zone 4 Property.
"Many property market analysts and estate agents have announced that they expect house prices to drop by as much as five per cent in 2008. This might not seem much, but when you consider that the average house price in the UK is around the £200,000 mark a five per cent fall will mean a £10,000 drop in the value of the average property which is significant.
"With falling demand for property also means that properties are selling at up to ten per cent below their market value which is great for property buyers but for home owners it means they are going to have to be very realistic on price," he continued.
Quick house sale expert Julian King comments, "As prices fall, we expect a sizeable increase in the number of enquiries from people looking for a quick property sale.
"The delays and uncertainties of selling on the open market, along with the ever falling property prices mean we anticipate more people seeking a quick house sale".
Mr King is a director of National Homebuyers, the UK's leading quick property sale firm that 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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