London prime market slowing according to National Homebuyers
New figures reveal that the prime housing market in London is reflecting wider pessimism and growth has begun to slow, meaning now is the time to look for a fast property sale.
[UKPRwire, Wed Jan 16 2008] Growth in the prime market in the capital slowed 0.2 per cent to just 1.4 per cent over the final quarter of 2007, Knight Frank prime central London figures show.
The slowdown could in part be attributed to the lower city bonus amounts predicted - with the amount of bonus cash given out estimated to have fallen anywhere between 25–50 per cent in the banking sector alone.
Of those who did receive end of year bonuses many are thought to have done so in then form of stock, Knight Frank says.
It adds that most indicators suggest that tightening economic conditions will continue and this may well result in job losses across the city and a surge in people seeking a fast property sale.
Fast property sale expert Julian King from National Homebuyers says, "Homeowners across the UK should be aware of the falling house prices.
"We are already assisting thousands of homeowners with the quick sale of their property to limit losses in the equity they have built up.
"Homeowners looking to retain as much equity as possible need to consider a quick property sale - something that the open market fails to achieve."
Mr King is a Director of National Homebuyers, the UK's leading fast property sale firm that guarantees to make a cash offer to purchase each property quickly, regardless of its condition or location. The company is a leading provider of Mortgage Rescue Schemes such as Sell and Rent Back when the homeowner can sell their property for cash, but remain in their home as a tenant.