Released on = May 4, 2007, 3:21 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = A market expert has waned that an increase in interest rates
- expected to be announced by the Bank of England\'s monetary policy committee (MPC)
following its next meeting in May - will slow the rate of house price growth says
National Homebuyers.

Press Release Body =

According to Richard Donnell, Hometrack\'s director of research, affordability will
be an increasing concern for Britons should rates rises, with dampened demand
expected to be a direct result.

\"Aside from any external shock to demand we can identify the two main causes of
slower house price growth as being further increases in affordability pressures
and/or an above average growth in the supply of homes for sale,\" Mr Donnell said.

\"We expect both these factors to result in a slowdown in the rate of house price
growth over the second half of the year.\"

However, demand is still strong in the lead-up to the predicted rate rise, with
average house price growth of 6.8 per cent reported by Hometrack in the last year -
up from 6.7 per cent in March.

This represents the highest annual change since June 2003.

Julian King, director of National Homebuyers, the UK fast property purchase company,
says: \"We have been predicting the effects of ongoing interest rate rises for
12-months.

\"The certainty of more and more interest rate hikes is already having an effect.
National Homebuyers is being inundated with people enquiring about a quick sale
solution for their property as their local marketplace is already going backwards.

\"We will happily discuss our solutions to help people worried about the future value
of their property.\"

Web Site = http://www.nationalhomebuyers.co.uk/newsarticle.asp?ID

Contact Details = Sterling House
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