Prices set to continue falling according to National Homebuyers

UK homeowners may seek a fast property sale after one expert said that a housing market recovery is not yet on the cards.

[ClickPress, Thu Feb 21 2008] During a speech to delegates of Manning Stainton, Neil Parker, a strategist with The Royal Bank of Scotland Global Banking & Markets division, hinted that prices will continue falling until the last three months of the year.

It will concern many homeowners that prices will not pick up for some time, leading large numbers to seek a fast property sale.

"The UK economy faces a number of challenges in the coming quarters following the credit crunch, the sub-prime mortgage crisis and a predicted global economic slowdown," said Mr Parker.

"Over the past six months the UK property market has already seen a significant slowdown in activity and residential prices have fallen by about half the amount we expect them to fall overall," he added.

Julian King, director of 'Buy My House Fast' property company National Homebuyers adds, "The delays costs and uncertainties of selling a property on the open market is causing many thousands of homeowners to opt for a fast property sale.

"Homeowners looking for a quick property sale would do better than using an estate agent by researching the options available to them to guarantee a quick sale".

Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm. The company arranges a guaranteed offer to purchase any property within days, regardless of property condition or location.

Nationwide recently revealed that house prices fell by 0.1 per cent between December and January.

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