(PRWEB UK) 17 June 2014
Property purchase specialists The Home Buyers Group have commented on fears that the UK’s booming property market may be approaching a crash, following recent warnings to the government and Bank of England from both the International Monetary Fund (IMF) and the European Commission. Whilst the IMF stated that there are no signs of a credit-driven bubble as yet, they said that this could change very quickly, and that the Bank of England must be ready to take measures.
Writing on their website, The Home Buyers Group pointed out that many fears of a property bubble in the current market are based on unsustainable price rises in the London area; house prices here have reached three times that of other parts in the country, and the median price is 12 times that of the average London worker. Meanwhile, other parts of the country are experiencing slower rises in house prices and in many cases have yet to recover to pre-recession prices. However, many of the measures that may be used to calm the market would apply nationwide; this may have an unwanted effect on property owners in areas of the country which are still in recovery, as well as dampening the heat of the London market.
The Bank of England’s recent systemic risk survey (http://www.bankofengland.co.uk/publications/Pages/other/srs/srs2014h1.aspx) highlighted growing fears of falling house prices, with 40% of respondents citing this as a key risk, and for home owners who wish to sell – especially those outside the capital – this is an increasingly uncertain climate in which to market a property.
The Home Buyers Group is a group of property investors and specialists in quick house sales. Working throughout the UK, they offer a fair price for both freehold and leasehold properties in any condition, with quick and guaranteed completion, an ideal service for property owners who need a guaranteed sale for their property quickly.
For more information about The Home Buyers Group and their services, please visit their website at http://www.homebuyersgroup.co.uk.