House sales see small increase

Property sales saw a small increase last month although the rise is predominantly attributed to sellers finally accepting that their properties may have been overvalued.

According to figures released on Wednesday by the National Association of Estate Agents, the average estate agent was selling seven properties per week in October, compared with six in September and a lowly five per week in August.

That slight increase has coincided with a huge drop in the value of properties that had previously been for sale on a stagnant housing market, with the average home seeing £16,871 slashed from it’s value.

There was further bad news for those looking to sell a property, with the number of house hunters registered with estate agents dropping 7 per cent in October, according to the NAEA, while the average number of unsold homes on their books rose from 91 to 98.

With many analysts predicting that recent interest rate cuts will do little to ignite the ailing property market, home owners looking to sell a property face a considerable wait for a buyer through the traditional avenues, even with notable price reductions.

If you are looking for a quick property sale, possibly due to relocation, a change in family circumstances or as part of a debt repayment plan, then Swift Capital may be able to help.

Even during the current downturn in the housing market, Swift Capital guarantees to purchase any property, regardless of condition, with minimal hassle. Unlike many of our competitors, we are not reliant on obtaining mortgages to complete a purchase, instead using our own financial capital to give you a cash payment for your house sale.

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