(1888PressRelease)
June 04, 2007 - By assimilating data from the house price surveys of Nationwide, Halifax and the Department for Communities and Local Government, property investment company Assetz found that house prices rose by 11.1 per cent in the last year as of April.
As a result, average UK House prices have increased by £20,498 to £208,174 since April 2006.
"The continuing upward trend in UK house prices has been strongly demonstrated again this month, with the indices showing the annual increase in the price of a home to have broken the £20,000 barrier in April," Assetz managing director Stuart Law confirmed.
"The increased rate of growth to 11.1 per cent can be attributed to the current high levels of confidence amongst sellers, reflected in asking prices.
However, Mr Law suggested that this rate of growth was set to "fall back" by the end of the year, especially as the effects of the latest rise in interest rates takes hold - and with the prospect of at least one further rate hike looming large.
National Homebuyers, the UK's leading fast purchase property firm, which buys thousands of properties every year shares Mr Law's view. "Certain areas of the UK are already experiencing the first slips backwards," says director Julian King.
"We would not be surprised if this continues to the point where the media start using words like 'crash'.
"Rightmove's house price survey shows the average house price in May rose by just 0.4 per cent - the lowest monthly house price rise of the year.
"What's more, average asking prices fell in the east Midlands, west midlands, north and north-west regions of England".
People worried about being able to sell their house for maximum value before a 'crash' should consider National Homebuyers. The homebuying firm guarantees to make an offer on any property, in any condition.
Their website is www.nationalhomebuyers.co.uk/index.asp.
