According to a recent report in the Guardian, house prices in London are falling in various areas. Figures released by Zoopla show that while other areas such as Manchester and Liverpool are showing increases in house prices, many post codes across the capital are seeing a decline.
Since the economic crisis in 2008, most properties in London and the South East has risen in value, in sharp contrast to areas such as Hartlepool where the prices have struggled to return to pre-crisis value and has hindered home owners who need a fast house sale.
Knock-On Effect for Suburban Areas
It’s estimated that around 40% of postcodes in London are experiencing slumps in house prices, including prominent areas such as Islington, Wandsworth and Camden. This is starting to have an affect on some of the more suburban areas surrounding the capital like Kingston-Upon-Thames and Harrow, prompting concern among estate agents and home owners who want to sell my house fast.
House Prices in Hartlepool and Peterlee Still on the Decline
The average house price across the UK grew by 4.9% and costs an average of £226,000 in January, according to figures from the Office for National Statistics (ONS). House prices in London typically grew by £5,000 in the same month and were worth an average of £486,000. However, the north east area, including Hartlepool continued to see house prices fall, with a massive £7,000 wiped off the value in January, and the average home in the area being valued at £123,000.
While many property experts feel that the gap between the north and south of the country in terms of property value is narrowing, the continued fall in prices in the North East shows that the gap is ever-widening making it difficult for the housing market to gather any momentum.
Conversely, house prices in London have rocketed since the financial crisis, with some properties increasing in value by as much as 86%. This has forced many people into looking outside of the capital for property or having to remain in rented property if they wish to continue living in London.
For those living in Hartlepool and the surrounding areas, houses are continuing to be slow moving. Anyone thinking “I need to sell my house fast” may be concerned that their property could take months or even years to move.
Thankfully, there are ways to quickly sell my house for cash, giving home owners a rapid solution and saving them from months of stress and potential financial problems.
Home owners wondering how to sell my house fast, can use the services of reputable property buying companies who can offer cash for property regardless of the condition of the property or the current housing market.
Buyingpropertyfast.com gives people who need to sell my house fast peace of mind and allows them to quickly move on with their lives. Taking away the expense and stress of trying to sell their house through an estate agent and any costly repairs needed to bring their house up to a saleable standard.