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House prices may take five years to recover

It may be the worst-case scenario but some economists are predicting that house prices may drop by up to 10% come next year. Worse still many are predicting that house prices will not return to what they were two years ago until as late as 2014.

This gloomy predication is based on rising unemployment and the banks rationing of home loans and some have even stretched this to 2019. Of course, if you are stuck with property that you have to sell quick, even 4 years can be a long time to hold onto it.

There may be many reasons why you need to sell property now at the worst possible time. For instance, you may want to sell when going through a divorce and you need to split sale proceeds without the hassle of putting your home on the market. You might have to make a quick house sale if you are emigrating to start a new life and of course leaving with cash from a house sale is better than having to come back to finalise a sale if it happens.

In any of the above circumstances you may be able to sell within a few weeks and avoid having to pay the fees typically associated with an estate agent and solicitor.

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