Released on = May 17, 2007, 3:50 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Despite housing charities warning that the interest rate
rise announced by the bank of England\'s monetary policy committee (MPC) last month
will lead to a rise in the number of repossessions, the Royal Institution for
Chartered Surveyors (Rics) has predicted a further rate hike later in the summer.

Press Release Body = Although the latest Rics survey shows an interest rate of 5.5
per cent has had a significant impact on buyer affordability - with new buyer
enquiries reported to have fallen for the fifth consecutive month - house prices
rose for an 18th month in succession.

As a result, Rics spokesperson Ian Perry predicted the MPC will opt for another rate
rise later on in the year in a bid to ensure the housing market is sufficiently
cooled.

\"Last week\'s interest rate hike may not be the last as the housing market has not
slowed as quickly as expected given the initial round of rate rises,\" Mr Perry said.


\"With prices buoyant and conditions still tight another rate rise later in the
summer looks likely.\"

House price growth was reported to be especially buoyant in Northern Ireland,
Scotland and London.

However, negative house price growth was a feature in both the East and West Midlands.

Julian King, director of property purchase company National Homebuyers says: \"Why
this is a surprise is beyond me. We have been predicting rate rises to up to 7.5 per
cent within twelve months for over a year.

\"National Homebuyers is at the fore-front of the quick sale property industry and as
such we speak to thousands of people every week who are seeking fast property sales
to avoid further debt.

\"Given the need to slow the economy down, borrowers who have overstretched
themselves are going to take a hit. A bit hit.\"

National Homebuyers provides quick property sale solutions regardless of the need or
reason for selling and can be contacted on 0870 979 8118 or by clicking
www.nationalhomebuyers.co.uk/index.asp.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
08709798118
Fax: 01444 257333
info@nationalhomebuyers.co.uk