Buy to let landlords in south-west 'may see largest rise in property values'

01 July 2010

Written by Simon Whittaker

Buy to let landlords operating in the south-west of England may see the largest growth in the value of their portfolios compared with other areas in the UK, research has revealed.

A study conducted by Nationwide has shown that house prices in the area saw a three per cent quarterly rise by June, compared with the UK average growth of 1.9 per cent.

According to the firm's chief economist Martin Gahbauer, this saw the annual expansion rate of property values rise from 8.9 per cent to 12.5 per cent.

However, the best performing region continued to be Greater London, where the worth of homes surged by 13.2 per cent in the 12 months leading up to June.

"Similar to the first quarter, the northern and midland regions generally saw weaker growth than the southern regions," Mr Gahbauer commented.

The worst performing gainer was the East Midlands, which saw a 1.2 per cent quarter-on-quarter expansion, while Northern Ireland was the only area to see a fall in house prices.

After uncertainty around the time of the general election, chief economist at the Royal Institution of Chartered Surveyors Simon Rubinsohn recently said that he expected to see the housing market gradually improve over the next few months.

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