House prices falling according to National Homebuyers
House prices are falling and many people will be seeking a fast property sale as a result.
[UKPRwire, Wed Feb 27 2008] AWD Moneyextra has revealed that UK property prices fell by 1.57 per cent in January.
Further to this, first-time buyers using Moneyextra's mortgage comparison tool were searching for lower prices in January.
It is bad news for homeowners and appears to be a continuation of a trend which has seen house prices fall in recent months.
This will lead many people to seek a fast property sale in order to get the best value for their properties.
"December's cut in base rate has yet to be reflected in the housing market with many lenders dragging their feet in reducing their mortgage rates before Christmas. Will February's further rate cut have any real impact on the weakening housing market? It seems unlikely," said Robin Amlot from Moneyextra.
"The Council of Mortgage Lenders claims that barely 40 per cent of first-time buyers benefit from the current stamp duty land tax threshold.
"The outlook for the property market for 2008 remains subdued. Prospective first-time buyers needn't rush to buy – there are likely to be bigger bargains to be had in the months to come," he warned.
Fast property sale expert Julian King adds, "Homeowners looking for a fast property sale need to look away from the conventional estate agency route.
"The delays, costs and uncertainties of selling on the open market are causing convern for tens of thousands who are opting to sell their property to a quick property purchase firm like National Homebuyers.
"With no Hips pack fees, legal costs refunded and a guaranteed buyer, we are assisting thousands across the UK who are simply unable to sell through the traditional routes".
Mr King is a director of National Homebuyers, the UK's leading fast property purchase company, guaranteeing a quick sale for vendors who need to sell property fast. He is also a founder member of APBA [Approved Property Buyers Association] which is calling for regulation in the quick sale and Sell and Rent Back industries.