• 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:

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

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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 = Average Property Value
AMA = Average Mortgage Amount
ALV = Average Loan to Value

OVERALL (figures for April)
2005 APV=£208,854 AMA=£138,468 ALV=66%
2004 APV=£196,590 AMA=£130,155 ALV=66%
2003 APV=£185,188 AMA=£120,480 ALV=65%

FIRST TIME BUYERS (figures for April)
2005 APV=£194,961 AMA=£133,527 ALV=69%
2004 APV=£169,640 AMA=£129,458 ALV=76%
2003 APV=£157,270 AMA=£119,256 ALV=76%

BUY TO LET (figures for April)
2005 APV=£172,034 AMA=£123,369 ALV=72%
2004 APV=£157,849 AMA=£116,882 ALV=74%
2003 APV=£151,799 AMA=£109,763 ALV=72%

REMORTGAGE (figures for April)
2005 APV=£251,919 AMA=£154,905 ALV=62%
2004 APV=£223,377 AMA=£111,635 ALV=50%
2003 APV=£214,426 AMA=£108,948 ALV=51%

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About the Author

Moneynet.co.uk offers consumers a wide range of low cost financial products: from mortgages & personal loans; to insurance; credit cards; savings accounts & best-buy fixed rate products. Moneynet.co.uk is an impartial & comprehensive source of information, covering the whole of the personal finance sector.

Press enquiries: Richard Brown, Chief Executive, 020 8313 9030
online@moneynet.co.uk
http://www.moneynet.co.uk