press release

Press Release - 09/03/05

HIGHER EARNERS ENJOY MODEST PROPERTY PRICE RISES IN FEBRUARY, SAYS MONEYNET

BETTER off homeowners saw a slight rise in the value of their properties last month, according to Moneynet's latest monthly mortgage data (see table below).

The overall UK average property value of higher earners - those in the higher rate (40% plus) tax bracket - crept up to £204,656 in February, a 0.82% increase on January's £202,990, Moneynet (www.moneynet.co.uk) research confirms.

February's figure compares to £195,722 at the same time in 2004, giving a 4.57% annual increase in the value of the average higher earner's home*. Back in 2003, their average property cost £192,256.

The average salary of Moneynet user main household earners, at £41,049, is significantly higher than the £27,000** national average recorded by the Office of National Statistics.

"Visitors to our site - in common with many of those who regularly use the Internet for financial information and transactions - are typically better off than the national average worker," said Moneynet chief executive Richard Brown.

"Higher salaries are invariably reflected by more valuable properties, and the picture emerging is that homeowners at the higher end are on average doing better than those with cheaper homes," he said.

"Our new monthly Mortgage Borrowing Focus delivers an at a glance state-of-the-market idea of higher earning consumer borrowing patterns in this crucial area of the economy," said Richard Brown.

"As well as basic tables to be found with the press release, Moneynet can also provide a detailed breakdown of the different categories of mortgage lending - eg, fixed or discounted loans - favoured by consumers on a month by month basis."

** ONS, January 2005

OVERALL
	Feb 2005	Feb 2004	Feb 2003
Average Property Value	£204,656	£195,722	£192,256
Average Mortgage Amount	£138,461	£126,933	£121,608
Average Loan to Value	68%	65%	63%

FIRST TIME BUYERS
	Feb 2005	Feb 2004	Feb 2003
Average Property Value	£195,008	£174,474	£162,022
Average Mortgage Amount	£135,574	£130,867	£118,588
Average Loan to Value	70%	75%	73%

BUY TO LET
	Feb 2005	Feb 2004	Feb 2003
Average Property Value	£168,753	£156,170	£158,679
Average Mortgage Amount	£121,630	£116,529	£115,570
Average Loan to Value	72%	75%	73%

REMORTGAGE
	Feb 2005	Feb 2004	Feb 2003
Average Property Value	£246,484	£219,174	£223,151
Average Mortgage Amount	£154,875	£108,654	£109,601
Average Loan to Value	63%	50%	49%

PRESS ENQUIRIES

Richard Brown, Chief Executive, 0208 313 9030

David Andrews/Cathy Tully, David Andrews Media Ltd 07941 255855 / 01273 774109 / 07747196854

Consumer enquiries: info@moneynet.co.uk / www.moneynet.co.uk

Moneynet.co.uk is the UK's longest established online personal finance research and data analyst company. The company offers consumers a choice of thousands of low cost financial services products. From mortgages, personal loans to motor, home and medical insurance, credit cards, savings accounts and best buy fixed rate products, Moneynet is one of the most comprehensive online services of its kind in the UK. Founded by chief executive Richard Brown, the Moneynet brand is destined to become one of the UK's major players in consumer finance products.

A DAVID ANDREWS MEDIA LTD - RELEASE FEBRUARY 2005