Mortgage holders see property values grow

09 December 2009

Written by Jeni Browne

Buy to let mortgage holders and other home loan customers may have seen the value of their property increase in November, as the latest Halifax House Price Index indicated that the average UK home went up 1.4 per cent in price during the month.

According to the index, there have now been five successive monthly property price rises.

Recent Nationwide Building Society and the Land Registry studies have also indicated that the value of bricks and mortar has increased significantly since the turn of the year.

Halifax priced the typical UK residence in November at £167,664, which is above Nationwide's estimated figure for the same month.

Martin Ellis, Halifax's housing economist, said that increased demand for property has helped contribute to higher house prices. He added that this has occurred partly because of an improvement in affordability for both existing homeowners and first-time buyers.

"Somewhat higher demand has combined with a low level of properties available for sale to push up prices," the expert explained.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now?