Drop in house prices 'slows down' - buy to let mortgages

29 April 2009

The fall in house values recorded over recent months has slowed down, it has been found.

Michael O'Flynn, the content editor for Findaproperty.com, noted that a "modest" improvement has been seen in the housing sector, something that may be welcomed by holders of buy to let mortgages.

He was commenting on figures unveiled by Hometrack, which showed that prices declined by 0.3 per cent over April, the smallest drop for a year.

"It's encouraging to see that prices are falling at a much slower rate and that there is more activity in the market," Mr O'Flynn stated.

And he said that the current low level of interest rates, combined with reduced house values, have prompted people to feel that the market is reaching its bottom.

If this is the case, property investors with financial backing may wish to buy soon before prices begin rising again.

Values have dropped 10.1 per cent over the last 12 months, according to Hometrack.

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