Could buy to let portfolios increase in value as house prices rise?

28 July 2010

Written by Jeni Browne

Buy to let portfolios may increase in value as one organisation has reported that the worth of property rose in June.

The Land Registry's latest House Price Index showed that the cost of a home was up 0.1 per cent compared with May and 8.4 per cent higher than it was at the same point last year.

On average, the value of a property in England and Wales is £166,072, around the same level seen in the summer of 2006, the body noted.

This marks the eighth consecutive month in which a year-on-year increase has been posted, with all regions in the two nations seeing higher house prices, the organisation stated.

Wales saw the biggest monthly gain, with the worth of houses jumping 2.9 per cent, while London saw the best annual performance with a surge of 12.2 per cent, the research revealed.

This comes after a study by Lloyds TSB found that the value of property in 14 postcodes close to the Olympic Park had risen by 26 per cent on average.

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