Gloomy forecast for UK Property Market

A new survey by leading property National Homebuyers shows that there is a gloomy future for property vendors in the UK.

[ClickPress, Tue Mar 14 2006] Property owners have real cause for concern about the UK property market, reveals a new survey published today by National Homebuyers. Nearly 90% of independent Royal Institute of Chartered surveyors interviewed feel the market is at best static and at worst slow, strongly contradicting recent reports of improvements.

National Homebuyers, the UK’s leading consumer-facing property purchasing company, surveyed more than 800 RICS qualified surveyors, who have valued properties across the UK in past xxx months. The surveyors’ views reveal that the position for sellers is far gloomier than some in the business have predicted.

The survey looked at eight regions across England, with a stark difference emerging between the vast majority (89.5%) who reported that the market was stable, static, quiet, slow or a ‘buyers’ market’ and the 10.5% of surveyors who felt that business was either buoyant, had reasonable demand, was good or improving.

Commenting on the research, Julian King, managing director of National Homebuyers said: “Unfortunately, it’s going to be another challenging year for sellers. National Homebuyers deals with hundreds of customers who are still finding it difficult to sell their property. Whilst reasonably priced houses are selling well, too many vendors are given an inflated asking price, meaning their houses take longer to sell or stay on the market indefinitely."

He continued: “In some areas of the country, only 1% of surveyors felt that they were witnessing an upwards trend. It is clear from what surveyor’s told us, that the market is not as healthy as many would have us believe.”

Worryingly, only 3.8% of the surveyors contacted felt that the market was buoyant, although this rose to 12% in the North West. A quarter of all respondents said the market was quiet, with 20% of surveyors saying that it was slow.

National Homebuyers received the following responses from 813 independent RICS-qualified surveyors questioned on the state of the market:

South West South South East Midlands
Buoyant 2% 2% 4% 2%
Selling readily/Reasonable demand 3% 3% 2% 2%
Good/Satisfactory 3% 4% 3% 2%
Slight upward trend/Improving 2% 2% 1% 1%
Stable/Static 27% 24% 30% 20%
Quiet 10% 19% 23% 27%
Slow/slowed 30% 24% 25% 29%
Buyers Market 24% 21% 11% 18%

Anglia Wales North East North West
Buoyant 1% 2% 5% 12%
Selling readily/Reasonable demand 2% 1% 1% 3%
Good/Satisfactory 2% 3% 3% 5%
Slight upward trend/Improving 1% 2% 2% 2%
Stable/Static 18% 21% 16% 10%
Quiet 26% 28% 29% 26%
Slow/slowed 18% 8% 13% 20%
Buyers Market 32% 35% 30% 23%

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Notes to Editors
1. Contact BOTTLE PR for further information:
Will Cairns: willcairns@bottlepr.co.uk
T. 01865 882989

2. National Homebuyers is a major national property company whose mission is to help property owners sell their homes quickly and stress-free. They guarantee to make an offer to buy property, residential or commercial, regardless of condition or location.

Their mission is to make a sale smooth, quick and free from the stresses normally associated with moving home.

For further information visit: www.nationalhomebuyers.co.uk