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Moneynet reports homeowners enjoy modest house price inflation in April
Slight increase in April property values for property owners in the higher rate tax bracket, reports Moneynet PR9.NET May 12, 2005 - 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 Saleries 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. # # #
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Moneynet.co.uk is the UKs most established personal finance research and data website. The company offers consumers a wide range of low cost financial products: from mortgages and personal loans; to car, home and medical insurance; credit cards; savings accounts and best-buy fixed rate products. Moneynet.co.uk is an ethical, impartial and comprehensive source of consumer finance information, covering the whole of the personal finance sector. Moneynet was founded by Chief Executive Richard Brown to remove monopolies held in the personal finance market and give consumers the greatest choice for financial products and services mailto:info@moneynet.co.uk http://www.moneynet.co.uk About Bigmouthmedia Bigmouthmedia are world-wide specialists in search engine optimisation, brand protection online and internet marketing. |
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