(1888PressRelease)
June 09, 2007 - According to the latest statistics from the Land Registry's house price index, April saw prices increase by 0.6 per cent, with the average house in England and Wales now costing £179,935.
The government agency said that the current annual rate of inflation was one of the highest for two years, and more than double the 4.1 per cent rate recorded in April last year.
However, commenting on the new figures, David Stubbs from the Royal Institution of Chartered Surveyors (Rics) said that the outlook for the market remained bleak.
"The acceleration in price growth reflects the strength of the market in previous months but does not signal further strength in the future," he said.
"Price rises will moderate as the year progresses. Demand will pull back in the face of higher mortgage interest rates and terrible affordability problems amongst first time buyers."
Homeowners facing the pinch on their finances could find a solution through fast purchase property experts National Homebuyers. Director Chris Newman says: "We will arrange for homeowners to release up to 100 per cent of the equity in their home and rent the property back.
"Our Sell and Rent Back product is able to help many people for whom the restrictions associated with Equity Release plans make them unobtainable.
"We guarantee to make a formal cash offer on every property we survey and agree a rental price and period with the homeowner. We are flexible in our terms and unlike Equity Release, there are no hidden charges or complicated terms to tackle."
More information about Sell and Rent Back can be found
by visiting www.nationalhomebuyers.co.uk/sellandrentback.html
or by calling 0870 979 8118.
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