Examining your options for achieving a quick sale in a difficult property market.
Despite small signs of early promise at the start of January, most surveys conducted at the tail end of 2008 showed that the property market in the UK is still slowing. According to the latest official government numbers, prices slid by 0.8% in November 2008, compared with a slight rise of 0.1% in October 2008. Mortgage lending by banks also slumped to record lows last November, down over 60% on the same month in 2007.
The sell house fast option appeals as prices fall
The government stats for November 2008 also reveal that the average sale price of a home in the UK is now just a shade over £218,00, down from more than £220,000 in October 2008. And the outlook remains gloomy, as further weakness in the housing market are universally predicted over coming months. The most optimistic predictions for 2009 show prices remaining flat until at least the end of the year.
Conventional sales are suffering from the credit crisis
Analysts say the slowing market is a result of tighter credit conditions and caution among buyers wary of long-term employment prospects. Official government stats include data on actual sales completions, and so lag monthly sales data from banks and other lenders, but early figures for December from Halifax and Nationwide show that although sales volume rose slightly compared to November, actual prices continued to fall.
Protecting your equity – gains to be wiped out in 2009
Capital Economics, which correctly predicted the abrupt end of the UK property boom, anticipates that prices will continue to drop by as much as 8% in 2009, wiping out the gains of the past 18 months and pushing more homeowners into negative equity.
Getting that quick sale before prices fall further - rent back the same property
With even the most optimistic predictions showing that homeowners will continue to suffer in 2009, many people are looking for a fast way out by turning to quick sale schemes. Whether the threat of repossession looms, or you just want a quick way out of the increasingly uncertain property market, quick sale and ‘sell house fast' schemes are the quickest way to release money tied up in property and reduce the potential long-term risks of being stuck with a rapidly devaluing property. And with many schemes allowing you to rent back the same property without having to move, the popularity of these schemes is tipped to continue rocketing as the recession grips in 2009.
Want to sell quickly? Create Quick Sale can help
Create Quick Sale are experts at helping people release equity from their homes in as short a time as possible. The company is part of a large international group that is also involved in secured finance, property development schemes, asset management, private equity and other investments. Our main businesses are in the UK and we have assets and interests in throughout the world. If you're after a fast house sale, we can help. Call 020 8457 3200 to find out more, or email your query to: info@createquicksale.com.