House prices may have reached their peak
Property prices in the UK may have peaked is the stark warning in a report out this week.
Paul Smith chief executive of Haart, reportedly gave out the warning this week of a big slump in demand from buyers and that the prices of houses have now peaked, reportedly saying “We are starting to see a big slump in buyer demand with registrations down a huge 46% across the UK in just one month,”
Mr Smith further went on to say “We believe the nation has now neared the limit in terms of price rises. Our data is already showing a slowdown in both house price growth and transaction levels. In order to maintain healthy sales levels sellers need to be much more realistic with their asking prices – properties are in danger of being overvalued and these homes will struggle to sell.”