If you desperately need to use a sell house fast scheme due to financial trouble, you may be interested in reading on. It has been consistently reported by the media and various industry bodies that house prices have recently risen month on month.
However, is this just because the volume of supply is very low and demand is modest at best meaning any improvements seen are marginal? You decide I’ve placed a few facts for you to look over so you can judge for yourself.
The Royal Institute of Chartered Surveyors (RICs) has reported house price rises for the last 4 months in a row, according to its monthly member survey. According to its latest report, which looks at supply, demand and prices the figures were the best seen since November 2006.
One RICs spokesman stated that supply is being outstripped by demand and the current status of the property market does not match the conditions in the overall economy. Other facts to consider are that proportionately speaking 35% more surveyors reported house price rises in November 2009. And 18% more surveyors reported a rise in new seller instructions.
So the above does suggest that there is an increase in the volume of sales and new instructions. However, with the number of new enquiries far outstrips the volume of new stock. How much longer can the house price rise last? My guess is that in January we will see a slight drop in demand and house prices. It would be interesting to see figures on what proportion of these sales were people using sell house fast schemes as a result of redundancy or unemployment.
Looking at other surveys the government reported house prices rises totalling 2.3% in the 3 months leading up October. It will be interesting to see how Christmas consumer spending affects the property market and employment rates in early 2010.
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