Prices fall in December says National Homebuyers
House prices fell in England and Wales in December, according to the latest figures from the Land Registry, potentially leading to a surge in people looking for a fast property sale.
[UKPRwire, Tue Feb 12 2008] The organisation's house price index reveals that the average property lost 0.4 per cent of its value between November and December.
It shows that the market is currently caught in the middle of a downward spiral, with annual inflation falling to 6.7 per cent.
According to the Land Registry, it is the first time since 2005 that house prices in England and Wales have experienced a drop.
The figures are likely to lead to a large increase in the number of people attempting to secure a fast property sale, in a bid to get as much money as possible for their properties.
The largest month-on-month price drop was recorded in the East Midlands, where prices fell by 3.3 per cent.
Fast property sale expert Julian King adds, "Those who are experiencing unacceptable drops in their property value are encouraged to attain a quick sale for their home".
Mr King is a director of National Homebuyers the UK's leading fast property purchase firm.
"Homeowners who need a quick sale must act quick to reduce their potential loses.
"We have seen a huge surge in enquiries for people wanting a fast home sale in the first five weeks of 2008. As the market continues to be slow, we expect this to continue".