(1888PressRelease)
May 22, 2007 - Research by Halifax and UK property purchasing company National Homebuyers shows that while house prices are still on the rise, the rate of growth is significantly lower than it has been for the last few months.
In fact, according to Halifax, figures for April have revealed that house prices increased by the smallest monthly rate this year - up by just 1.1 per cent.
"House prices increased by 1.1 per cent in April; the smallest monthly increase so far this year and the second lowest since July 2006," confirmed Martin Ellis, Halifax chief economist.
"There is accumulating evidence of a slight easing of conditions in the housing market with further signs of moderation in both demand and activity in the past month."
While house prices have risen by 10.9 per cent in the last year - with the average house price in the UK now standing at £196,745 - Mr Ellis believes recent interest rate rises and the prospect of further hikes will be enough to prompt "a slowdown in house price growth over the coming months".
Director of National Homebuyers Julian King states: "These increasing interest rate hikes has seen an influx in the volume of calls we receive from homeowners who are simply priced out the open market.
"National Homebuyers provide homeowners with several options to selling their homes quickly including the option of selling their property to us, as landlords, and renting it back for free. Alternatively, we can purchase for full market value. We will work with the homeowner to find the right solution for their problem". More information about sell and rent back can be found by clicking www.nationalhomebuyers.co.uk/sellandrentback.html.
For further information on a quick house sale or to release equity in your home, please contact National Homebuyers on 0870 979 8118 or visit www.nationalhomebuyers.co.uk.
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