press release

Press Release - 11/04/05

SLIGHT INCREASE IN MARCH PROPERTY VALUES FOR HIGHER INCOME HOMEOWNERS, REPORTS MONEYNET

Overall average property value was £205,518
The average value of a property for a First Time Buyer (FTB) was £195,282
Users looking to re-mortgage valued their property at an average of £249,322

PROPERTY values for workers in the higher rate tax bracket crept up last month (March 2005) 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 - climbed to £205,518, up from February's £204,656 according to Moneynet (www.moneynet.co.uk) research.

"The slight rise in values in March is broadly in line with price rises signalled by the latest Nationwide Building Society," said Moneynet chief executive Richard Brown.

"Average property values for visitors to our 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 we believe the survey to be a key tool for charting house price trends for the UK's higher earners," added 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."

See below for full figures and tables

MONEYNET MORTGAGE DATA FOR MARCH 2005 AT A GLANCE AVERAGE PROPERTY VALUES

Overall average property value was £205,518
The average value of a property for a First Time Buyer (FTB) was £195,282
Users looking to re-mortgage valued their property at an average of 249,322

AVERAGE MORTGAGE AMOUNTS

Overall average mortgage amount required was £136,604, a 67% loan to value (LTV)
FTBs were looking for an average mortgage amount of £130,518, a 67% LTV
Those users seeking to re-mortgage their property required an average mortgage amount of £155,801, a 63% LTV

SALARIES

The overall average salary of the main income earner was £38,818
An average FTB's salary was £36,090
Those users looking to re-mortgage had a main income of £44,292
For two income households, the second salary averaged out at £23,199 for FTBs; £25,670 for users looking to re-mortgage.

The following information is based on mortgage product search criteria provided by 5,400 randomly selected visitors to the Moneynet site for the period 01.03.05 - 31.03.05

OVERALL
	March 2005	March 2004	March 2003
Average Property Value	£205,518	£197,723	£192,445
Average Mortgage Amount	£136,604	£127,714	£121,476
Average Loan to Value	67%	65%	63%

FIRST TIME BUYERS
	March 2005	March 2004	March 2003
Average Property Value	£195,282	£172,475	£161,700
Average Mortgage Amount	£130,518	£129,072	£118,301
Average Loan to Value	67%	75%	73%

BUY TO LET
	March 2005	March 2004	March 2003
Average Property Value	£171,049	£159,652	£158,818
Average Mortgage Amount	£125,499	£117,072	£115,682
Average Loan to Value	73%	73%	73%

REMORTGAGE
	March 2005	March 2004	March 2003
Average Property Value	£249,322	£226,504	£223,956
Average Mortgage Amount	£155,801	£110,625	£109,755
Average Loan to Value	63%	49%	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