Prices to drop by 20% this year say National Homebuyers

Many people may seek a fast property sale as one expert warns of further house price falls to come.

[ClickPress, Tue Apr 22 2008] Website Fool has warned that recent housing market data suggests that future reductions are on the cards.

With this in mind, many people may seek a fast property sale so that they do not have to sell at a lower price in the future.

Commenting on the publication of the Halifax House Price Index, which showed that monthly house prices fell by 2.5 per cent, David Kuo from Fool had a stark warning for homeowners.

"The abrupt monthly fall of 2.5 per cent underlines Fool's position that the long overdue correction in house prices could see the value of the average home drop by as much as 20 per cent this year," said the firm's head of personal finance.

"According to Halifax, house prices rose 1.1 per cent based on quarterly year-on-year figures. But the reality is house prices fell 1.3 per cent on a monthly year-on-year basis. Fool therefore urges mortgage payers to brace themselves for further falls," he added.

Julian King of the UK's leading fast property buyer National Homebuyers says this has been evident for sometime. "We see thousands of people each month who need a quick property sale to maximise the value in their home.

"Homeowners are genuinely worried about the continued fall in property prices and the amount of value wiped off the face of their property if they do not sell their property fast".

Mr King is a director of the UK's leading fast home buyer, National Homebuyers. The company is provides repossession and mortgage rescue solutions such as 'Sell and Rent Back'. Sell and Rent Back is a fast property sale product which means the homeowner can sell property quickly and remain living in their home.

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