Prices slump in February says National Homebuyers
House prices slumped in February, potentially leading to a spate of people seeking a fast property sale.
[UKPRwire, Mon Mar 03 2008] Hometrack has published its housing market report for the month, highlighting that prices fell by 0.2 per cent.
In addition, annual inflation slumped to a low not seen since April 2006, with the figure recorded as 1.4 per cent.
It comes despite two recent cuts to the base rate of interest and will be of concern for many homeowners.
Large numbers are sure to seek a fast property sale in light of these figures as they seek to ensure that they make as much money as possible from their properties before house prices fall further.
Recent figures from Nationwide showed that the average UK property lost 0.1 per cent of its value between December and January and Hometrack has highlighted that it does not expect annual price inflation to be high in 2008.
Julian King of UK property buyer National Homebuyers adds, "People looking for a quick house sale are finding it difficult to achieve price or timescales by selling on the open market.
"Homeowners looking for a fast property sale are using National Homebuyers, as we are able to guarantee an offer to purchase within a matter of days".
Mr King is a director of National Homebuyers, the UK's leading quick house sale company that guarantees to make a formal offer to purchase any property for vendors who want a quick sale. The company also specialises in mortgage rescue solutions like the equity release styled 'Sell and Rent Back'.