Released on: September 24, 2007, 3:27 am

Press Release Author: Charlotte Burrows

Industry: Real Estate

Press Release Summary: The new homes market cooled in August, providing the latest
proof that prices are caught in a downward spiral.

Press Release Body: According to figures from SmartNewHomes, new house prices fell
by 1.1 per cent in the month and 0.6 per cent in the last three months.

It is bad news for anyone seeking a quick property sale for a home that they may
have inherited through a bereavement or won in a divorce battle as it shows that
interest in the market is falling.

Interest rate rises are also being blamed, with new buyers apparently fearful of
missing mortgage payments and suffering the indignity of home repossession.

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\"August has clearly shown a drop in prices as earlier interest rises begin to bite,\"
said David Bexon, managing director of SmartNewHomes.

\"New homebuyers are rightly being more cautious before taking on a bigger financial
commitment,\" he added.

It was recently revealed by Rightmove that house prices fell by 2.6 per cent in
September.

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

Contact Details: Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk