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House Price Drop

House Price Drop

House Price Drop

House Price Drop for the second month in a row- figures from Rightmove show that the house prices have taken a downturn. Recently Rightmove reported a 0.8% drop in house prices, these figures have been explained as a bit of a blip, this doesn’t help vendors if you are trying to sell your property for cash.

These figures suggest a house price drop is not going to stop falling, particularly if data from the Royal Institution of Chartered Surveyors are right. So if you’re trying to sell your property for cash at the asking price this could be a massive problem. Also the Bank of England the house price drop to continue over the next year or so.

Estate agents have confirmed that the market is slowing down and there has been a noticeable drop-off in demand over the last couple of months, buyers seem to be more hesitant to put forward cash offers on properties. On the other hand sellers aren’t liking the fact property prices are softening, that’s something they don’t want to hear because they are expecting when going to market to sell your property for cash in a reasonable timescale.

These house price drops have been felt across the U.K. not, just in the capital, the prospect of this has been welcomed by buyers especially in the first-time buyers’ market. The problem has been that demand for property has been outstripped by supply which has cause prices to rise beyond the reach of ordinary people, potential buyers could be put off by the fact that mortgage rates are at an all-time low and the possibility of these rising could be deterring buyers.

Here at Home House Buyers if you’re struggling to sell your property for cash we can help you rather than get stuck in a housing market floor, to speak to a member of our team call 0800 162 1366.

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