Released on: November 19, 2007, 6:56 am

Press Release Author: Charlotte Burrows

Industry: Real Estate

Press Release Summary: Nationwide believes that house price growth will grind to a
halt next year, spelling bad news if you are looking for someone to buy your
property.

Press Release Body: The bank has published its housing forecast for 2008 and
predicted that the market would experience a \"significant slowdown\", with growth
slumping to zero per cent.


It points to the fact that almost every house price index in recent months has
showed that the market is slowing and credit conditions are tightening.


\"Momentum is now fading and a number of factors suggest that house price inflation
will drop from its current rate of 9.7 per cent to zero per cent by this time next
year,\" said Nationwide economist Fionnuala Earley.


\"The main reasons for this more subdued outlook lie on the demand side of the
market, where a slowing economy, tighter credit conditions, stretched affordability
for first-time buyers and lower house price expectations appear likely to reduce the
level of activity.



\"The supply-side of the market will still be characterised by widespread housing
shortages, in spite of government targets to increase house building,\" she added.

Fast property sale expert Julian King adds, \"The number of transactions next year
will slow significantly.


\"The lack of buyers, because of the reasons given by Nationwide will make it
increasingly difficult for homeowners to achieve a quick sale.

\"As the length of time it takes to sell property increases, many will be looking for
alternative sales process than through the open market route. For many, a quick
property sale is the only solution available\".

Mr King is a director of National Homebuyers, the UK\'s leading fast property
purchase firm. The Sussex-based firm also arrange a Sell and Rent back Solution
where the homeowner can sell their property, but remain living there as a tenant for
as long as desired.

The latest Nationwide House Price Index put monthly price inflation at 1.1 per cent
in October.

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