House Prices Fell by Record 15.9% in 2008
According to figures released today by Nationwide, house prices fell by a record amount last year, falling 15.9%. Prices continued to fall in December, falling by a further 2.5%.Nationwide warns that their affordability measures still remain above average meaning that buyers are unlikely to return to the market in the near term, leading to the likelihood of further falls in house prices.
What does this mean if you're looking to sell your house, or need to move quickly? With a lack of buyers in the market, it means that it will take even longer to sell your house through an estate agent, and with falling prices, the longer it takes to sell your house, the more it will cost you - each month your house is on the market unsold, then the more it is costing you.
The number of houses sold in 2008 was down 60% and we don't see sales pricking up greatly in 2009 with economic uncertainty, lack of mortgage supply hampering any recovery.
Having said all of this, many people still need to sell their houses becuase of job relocations, divorce, moving abroad or because of financial difficulties. If you are in this situation, what should you do? Well selling through an estate agent is unlikely to be quick; the whole sale process could take months, with no guarantee that a sale will proceed to completion. The only solution that gives you certainty and speed is to sell your house through a property buyer such as Quick Move Now.
Quick Move Now specialises in buying houses quickly, aiming to give guaranteed offers within 7 days and completion in 14 days, giving your speed and certainty to enable you to move on.
For more details, call us on 0800 068 3366 or click for a FREE estimate now.
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