Released on = May 4, 2007, 3:06 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = \'Cold spots\' are surfacing in the UK property market, it has
been revealed says National Homebuyers.

Press Release Body =

A survey by Hometrack found that there are currently six regions in the UK where
house prices are rising at less than the 3.1 per cent inflation rate of the UK
economy as a whole - meaning in real terms, they are actually decreasing in value.

West Midlands property market prices, for example, are gaining by just 2.3 per cent
a year, while in the North and the East Midlands annual house price growth has been
measured at a meagre 0.9 per cent.

According to Harvey Williams, the West Midlands spokesman for the Royal Institution
of Chartered Surveyors (RICS), these \'cold spots\' can be attributed to the impending
introduction of home information packs (Hips).

Homeowners are rushing to sell their properties, Mr Williams says, before Hips are
rolled out - resulting in an oversupply of housing on the market.

\"Research for just the past ten days has shown the number of properties coming on to
the market is escalating at an enormous rate of knots,\" Mr Williams told the Express
and Star.

\"The number of houses on the market is up by 15 per cent on the same time last year,
and we are not even into May yet.\"

The UK\'s leading quick sale property company, National Homebuyers, has been warning
for six months of this problem. Director Julian King says: \"We warned in October
last year that areas such as Nottingham are feeling the \'pinch\' and are turning to
alternative ways to sell their property before the market turns rapidly backwards.

\"The introduction of Hips, the sustained rise in interest rates, lack of confidence
in the market and continued inaffordability of homeowners will continue to escalate
the problem.\"

National Homebuyers information regarding property sales problems in Nottingham can
be read here:

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

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
08709798118