House prices - check if they are falling.

April 7th, 2008

One of the hot topics of late is houses prices.  Whether or not there is going to be a full house price crash is open to debate, but it is quite clear prices have faltered and in some areas have fallen.  There is a lot of speculation that prices are over inflated, the credit crunch is hitting and that possible job losses will set prices tumbling, some say by maybe 20-30% in the next 2 years. 

A fantastic website to check how house prices are moving is propertysnake.co.uk which updates daily.  You select the postcode of your choice and the site immediately shows you every property that has a reduction in that area, with the highest fallers at the beginning.  Of course some properties may have a reduction due to personal circumstances but the figures give an overall trend for the area which will be very useful when considering either making an offer, or placing a property competitively on the market.

The market is still very active but it important to be armed with as much information as possible.