Property Rescue Blog

The speed of the economic slowdown is catching us all out, from captains of industry and commentators, to shop owners and consumers.  When the warnings of an end to the good times were first voiced, it was difficult to find many people who took them that seriously.  A few less pounds in the pocket maybe, but the threat of recession -  certainly not!

But with every week that passes, recession seems more and more likely.  The government defines ‘recession’ as two consecutive calendars quarters of negative growth, and although the UK economy is not yet at that point, this week’s news makes the pundits worst fears easy to believe.

The Bank of England decided to hold interest rates at 5% at their meeting on Thursday in the face of demands from industry leaders who want to see a cut in order to stimulate UK growth; it would appear that Mr King and his colleagues are more concerned about keeping the lid on inflation than they are on placating businesses.  Bad news is coming in droves from the new build sector, with Barratt, Redrow, Taylor Wimpey and others announcing substantial job cuts and some builders even downing tools on part finished properties. 

The Halifax announced that house prices had fallen by 2% during June, the fastest rate in 15 years, meaning that the average house is losing value at the incredible rate of £900 each week.  Yet the first time buyer is not entering the market in any real numbers because of several factors: the uncertainty surrounding prices, the difficulty in getting a mortgage, and the absence of low cost deals from lenders. 

The outlook for house sellers is bleak.  Estate Agents’ sale boards are diminishing in number and very few bear the magic word, ‘sold’.  It makes sense to most people to delay selling their home until the market has settled but for the unlucky few who need to sell due to personal circumstances there is little comfort to be found.  Without first time buyers pushing the market from the bottom up, buyers at all levels are scarce and the ubiquitous chain becomes ever more threatening to a successful house sale.

Property Rescue offers one of the very few ways out of this dilemma.  An established company with the backing of substantial funds, Property Rescue is able to make an offer for any home in any location or condition.  The valuation will be below market rates, but in a market where prices are sliding fast that becomes less of a concern to most sellers.  The key factor in all Property Rescue deals is that the sale is guaranteed to go through once the valuation has been accepted by the seller.  There is no chain, no waiting, no fuss.

Contact Property Rescue today to talk to one of their experts about how you could sell your home fast even in the face of possible recession.