Prices down in January according to National Homebuyers
House prices fell in January, potentially leading to a surge in the number of people seeking a fast property sale.
[UKPRwire, Thu Feb 07 2008] The latest Hometrack house price survey reveals that the average UK property lost 0.3 per cent of its value between December and January.
It is the same decline recorded in the previous month, demonstrating a definite downward trend for house prices.
This is likely to lead to more people seeking a fast property sale as they try to get the best value for their properties before prices fall further.
Annual inflation has also fallen again, standing at 2.3 per cent – the lowest rate of growth since June 2006.
Further to this, Julian King of National Homebuyers says, "Anyone seeking a fast property sale will be concerned to learn that the average time to sell a property reached 8.5 weeks in the month.
"This is a level not seen since the survey began in 2001.
"Homeowners who need a quick sale must consider options away from the tradional marketing route".
Mr King is a director of National Homebuyers, the UK's leading mortage rescue scheme provider, either arranging a quick property purchase or a Sell and Rent Back agreement where the homeowner can release equity in their property and rent their home back.