Released on = June 12, 2007, 3:29 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Double digit house prices rises are a thing of the past, it
has been suggested, as the housing market is \"coming off the boil\".


Press Release Body = According to a leading property market expert, the market is
suffering as a result of rapidly diminishing demand.

This trend has been brought about as the Bank of England has been forced to increase
interest rates to quell rampant inflation, Howard Archer, chief UK and European
economist at Global Insight, believes.

However, these measures have had an adverse affect on mortgage holders.

\"The housing market is coming off the boil as demand is increasingly pressurised by
the rising affordability pressures stemming from high interest rates,\" Mr Archer
said in the Daily Telegraph.

Meanwhile, Liberal Democrat shadow chancellor Vince Cable has predicted that the
housing market may not just come off the boil, but cool down completely.

\"The recent weakening of the housing market in many parts of Britain may well
reflect the difficulties experienced by many mortgage borrowers. The situation could
yet get a lot worse,\" he commented.

Julian King from fast purchase property firm National Homebuyers echoes this
comment. \"Things will get a lot worse. Rather soon.

\"York and Nottingham are the start of the downturn in the property market. The rest
of the UK will follow shortly.

\"Lending is still strong, but it is stabilising following major growth in 2006.

\"With higher interest rates now having a sizable impact, the slowing in activity
that we have been expecting looks set to increase dramatically.\"

National Homebuyers are the UK\'s leading fast purchase property company,
guaranteeing to make an offer on any property in the UK, regardless of condition or
location. The company use independent Rics (Royal Institution of Chartered
Surveyors) valuers to gain a genuine market valuation on each property before making
an immediate cash offer.

Further information is available at www.nationalhomebuyers.co.uk/index.asp.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk