Sell House Quickly in London with Secure A Sale UK - Sell your home fast

Are we back in 2008?

With the current banking liquidity crisis, rising unemployment and general lack of confidence in the economy, one could be forgiven that we haven’t moved on in the 3 years since the height of the credit crunch in October 2008.

While this is possibly true for many parts of the economy, the one sector that has seen sustained growth is residential property prices in London. With prices rising at an average annual rate of around 7% for the past 2 years, you could be forgiven for believing that house prices in London will keep on rising.

However, this does not take into account the extraordinary circumstances that have lead to record prices for prime central London. A combination of political instability in the Arab region, a historically very weak pound and perceived security in our capital has meant that London has come to be seen as the safest of safe havens for wealthy foreign owners and investors who almost always purchase for cash.

The mortgage market tells a different story with banks still reluctant to lend to even well-paid Londoners and transaction volumes still 70% below their 2007 peak. The property market is failing to gain momentum as first- time buyers struggle to afford a mortgage and inflation outpaces wage growth. Britons’ median income is expected to fall by about 7 percent in real terms in the three years through March 2013, the biggest 3-year drop for 35 years the Institute of Fiscal Studies said today.

With that in mind, many homeowners are now looking to sell their property for cash to a company like SecureASale before prices fall. We always buy for cash and there are no estate agency fees to pay if you sell to us directly.

Call one of our directors today on 020 7117 6001