press release

Press Release - 12/05/05

MONEYNET HOMEOWNERS ENJOY MODEST HOUSE PRICE INFLATION IN APRIL, REPORTS MONEYNET

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 (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..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 AT A GLANCE

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.

*
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

OVERALL

	April 2005	April 2004	April 2003
Average Property Value	£208,854	£196,590	£185,188
Average Mortgage Amount	£138,468	£130,155	£120,480
Average Loan to Value	66%	66%	65%

FIRST TIME BUYERS

	April 2005	April 2004	April 2003
Average Property Value	£194,961	£169,640	£157,270
Average Mortgage Amount	£133,527	£129,458	£119,256
Average Loan to Value	69%	76%	76%

BUY TO LET

	April 2005	April 2004	April 2003
Average Property Value	£172,034	£157,849	£151,799
Average Mortgage Amount	£123,369	£116,882	£109,763
Average Loan to Value	72%	74%	72%

REMORTGAGE

	April 2005	April 2004	April 2003
Average Property Value	£251,919	£223,377	£214,426
Average Mortgage Amount	£154,905	£111,635	£108,948
Average Loan to Value	62%	50%	51%

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