Moneynet
reports homeowners enjoy modest house price inflation in April
Released on
= May 13, 2005, 1:42 am
Press Release
Author = A David Andrews Media Ltd Release May 2005
Industry = Financial
Press Release
Summary = Slight increase in April property values for property
owners in the higher rate tax bracket, reports Moneynet
Press Release
Body = Moneynet reports homeowners enjoy modest house price inflation
in April
• Overall
average property value for April was £208,854
• The average value of a property for a First Time Buyer (FTB)
was £194,961
• Users looking to re-mortgage valued their property at an
average of £251,919
There was more
evidence of a market-bucking trend for property owners in the higher
rate tax bracket* from the latest Moneynet (http://www.moneynet.co.uk)
house price data survey.
House prices
showed a slight increase last month (April) for Moneynet-user homeowners.
Values edged up from £205,518 in March to a healthy £208,854
in April, according to Moneynet (www.moneynet.co.uk) research.
The survey –
which reflects the values of property owners who enjoy salaries
well above the national average – points to a return to gentle
house price inflation in the month preceding the General Election.
“April’s
modest rise in values is more encouraging than the most recent Halifax
house price survey. Many of our users are in London and the South-east
and other surveys also suggest that prices in the capital are recovering
after several months of barely any movement,” said Moneynet
chief executive Richard Brown.
Average property
values for visitors to the Moneynet site – in common with
many of those who regularly use the internet for financial information
and transactions – are higher than for those on the national
average wage.
But Richard
Brown said that the survey should be seen as a key tool for charting
house price trends for the UK’s higher earners.
“Moneynet
can also provide a detailed breakdown of the different categories
of mortgage lending – whatever the combinations – favoured
by consumers on a month by month basis.”
See below for
full figures and tables
Moneynet mortgage
data for April 2005
Average property
values
• Overall average property value was £208,854
• The average value of a property for a First Time Buyer (FTB)
was £194,961
• Users looking to re-mortgage valued their property at an
average of £251,919
Average mortgage
amounts
• Overall average mortgage amount required was £138,468,
a 66% loan to value (LTV)
• FTBs were looking for an average mortgage amount of £133,527,
a 69% LTV
• Those users seeking to re-mortgage their property required
an average mortgage amount of £154,905, a 62% LTV
Salaries
• The overall average salary of the main income earner was
£39,448
• An average FTB's salary was £37,001
• Those users looking to re-mortgage had a main income of
£43,792
• For two income households, the second salary averaged out
at £22,626 for FTBs; £23,820 for users looking to re-mortgage.
Ends
*******
The following
information is based on mortgage product search criteria provided
by 5,400 randomly selected visitors to the Moneynet site for the
period 01.04.05 – 30.04.05
APV
Web Site = http://www.moneynet.co.uk
Contact Details
= Consumer enquiries:
mailto:info@moneynet.co.uk
http://www.moneynet.co.uk
Moneynet
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8-10 Homesdale Road
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Kent
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