The east end of London, typically viewed by many property investors as a hotspot for home buying, has seen prices drop rapidly according to reports.
June 15, 2007 (Press Release) --
While some parts of the capital have seen prices rise steadily thanks to a great deal of interest from bankers and overseas investors, this doesn't seem to be the case for all parts of London.
The Newham Recorder reports that the borough of Newham in the east end has actually seen prices fall by as much as 0.7 per cent in a Month, with the average property now worth £259,267.
This is despite the average price of a house in London as a whole reaching close to £400,000, the newspaper reports.
National Homebuyers, the UK's leading fast purchase property firm, says the East End is the third area that is suffering a price drop. Director Julian King says: "This is a further sign that the property boom of the last few years is coming to an end
"Property prices actually beginning to fall, as well as the slowing of price rises seen in Nottingham and York.
"We stated in late-2006 that by the end of summer 2007 many areas would begin to see a drop if interest rate rises continued to rise. This process has already started and homeowners should be aware that a property place on the market this month will be cutting it fine to be completed before Christmas."
National Homebuyers purchase properties in any condition or UK location for cash. They complete on a date of the vendor's choosing and because they are a private buyer, there is no chain, so the purchase is guaranteed to complete. Further information is available at www.nationalhomebuyers.co.uk/index.asp.
The Newham Recorder reports that the borough of Newham in the east end has actually seen prices fall by as much as 0.7 per cent in a Month, with the average property now worth £259,267.
This is despite the average price of a house in London as a whole reaching close to £400,000, the newspaper reports.
National Homebuyers, the UK's leading fast purchase property firm, says the East End is the third area that is suffering a price drop. Director Julian King says: "This is a further sign that the property boom of the last few years is coming to an end
"Property prices actually beginning to fall, as well as the slowing of price rises seen in Nottingham and York.
"We stated in late-2006 that by the end of summer 2007 many areas would begin to see a drop if interest rate rises continued to rise. This process has already started and homeowners should be aware that a property place on the market this month will be cutting it fine to be completed before Christmas."
National Homebuyers purchase properties in any condition or UK location for cash. They complete on a date of the vendor's choosing and because they are a private buyer, there is no chain, so the purchase is guaranteed to complete. Further information is available at www.nationalhomebuyers.co.uk/index.asp.
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