Mortgage holders see typical home rise to £158,377

29 October 2009

Written by Jeni Browne

Landlords with buy to let mortgages may be interested to hear the latest property price information from the Land Registry.

According to the organisation, the average home in England and Wales cost £158,377 in September.

It also indicated that the typical value of a property rose 0.9 per cent between August and September.

The Land Registry bases its data on completions, which may be one reason why its average house price estimation is below that of both Nationwide Building Society and Halifax.

Earlier this month, these two financial service providers stated that the typical home in the UK was worth over £160,000 in September.

Another finding from the Land Registry was that London experienced the highest monthly price rise (1.3 per cent), while the north-east of England recorded the greatest year-on-year property price fall (-8.2 per cent).

Meanwhile, buy to let landlords - or any other type of homebuyer - looking to add to their portfolios will have to spend an average of £314,954 if they want to buy a residence in the English capital.

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