Price growth slumps says National Homebuyers
Property price growth slumped in 2007, potentially leading to a surge of people looking for a fast property sale in 2008.
[UKPRwire, Thu Jan 24 2008] Moneyextra has revealed that price growth fell to 1.85 per cent in 2007, compared to 7.44 per cent in 2006.
The fall in growth is likely to lead to more people looking to make a fast property sale in order to get the best price for their property.
"It's now clear that the housing market has slammed on the brakes, the most optimistic outlook for house prices for 2008 would appear to be that they'll stand still but values are falling now and are likely to continue to do so - it's just a question of how far and how fast they'll fall," said Robin Amlot, senior editor at Moneyextra.
Fast property sale expert Julian King says, "Homeowners worried over the continued loss in value of their home should consider a quick house sale.
"Those with looming financial problems are advised to act quickly to avoid becoming a repossession statistic. Options exist for the homeowner to release equity, but remain living in their home".
Mr King is a director of National Homebuyers, the UK's leading fast property sale company that guarantees to make a formal cash offer to purchase any UK property within days. The company is also a leading provider of the Sell and Rent Back mortgage rescue scheme.
The latest figures from Nationwide revealed that house price growth slumped from 1.6 per cent in the third quarter of 2007 to just one per cent in the final quarter of the year.