15 May UK Property Crash
Uk Property Crash
The U.K house price boom threatens to turn in a UK property crash, beware quick house buyers.
Being a house seller in this market could be dangerous as the property market looks set for a crash this warning comes from industry experts, as a key survey is set to reveal there are more sellers than there are buyers.
The property prices have soared over the past year, especially in London. In London, the quick buyers’ market has gone mad with fast sales being common place. This trend has caused the property boom which has seen a vast amounts of property that is hitting the market which, has inevitably slowed the housing market.
Experts predict housing market to rise further over the next 12 months, but then to fall after that causing a UK property crash. A well-known building society says properties in London are now 26% dearer than they were a year ago and prices across the country are also going to rise.
Vendors over this next year are going to cash in on quick buyers, but then creating a glut of houses on the market. Quick buyers are very wary of paying over the odds for properties.
The fact that interest rates are at an all-time low they are expected to rise before the end of the year, some argue that it is a bad time to be buying properties, and that once the cost of mortgages go up the inevitable has to happen, the house prices have to go down. This still is far away from the trend at the moment using quick buyers seems like more of a viable option than going through and estate agent.