Residential Property Values Have Fallen 2.4% So Far This Month.

UK property prices fall attracting even more property investors with finance

UK property prices fall attracting even more property investors with finance

Residential property values have fallen by a record amount so far this month, according to a new study by the property portal Rightmove.

The latest Rightmove House Price Index, released on 20th August, revealed that the cost of residential property has fallen by £5,837in August 2012.

This represents a drop of 2.4% in overall property value, greater than the average 1.1% decline observed in property values for the corresponding month over the last decade and is indicative of an aggressive stance from property vendors who are getting more desperate to sell.

Property investors with finance could cash in, if the financial pressures keep increasing on struggling home owners, who are desperate to sell in order to pay off debts.

Miles Shipside, Director at Rightmove, said: “The number of new sellers is slightly up on the same period last year, though perhaps as a reflection of their urgency to sell.”

Rightmove also revealed that more than 120,000 properties have been listed on the market since the beginning of August 2012, an increase of 0.4% on the same month in 2011.

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