Property Values To Remain Subdued In 2013

UK Property values will remain subdued in 2013

It has emerged that while first-time buyers are continuing to struggle to secure mortgage loans on any type of property, according to UK mainstream mortgage lender, The Halifax.

The UK mortgage lender said that while the overall outlook for UK property values “remains more unclear than usual” it expects “little change” in UK property values during 2013.

Residential property values will remain within a margin of -2% to +2% of current property values before ending the next year broadly in line with today’s residential values.

The Halifax reported that residential property values rose by 1% in November 2012, taking the average value of a UK property to £160,879 (GBP) and prices remain 1.3% lower than they were in 2011.

Property values in the three months to November were 0.7% lower than they were in the previous quarter.

This is great news for property investors looking to extend their Buy To Let property portfolios, with residential property values subdued and new Buy To Let mortgages continuing to trickle into the marketplace, investors should be able to pick up some real property bargains for very little cash outlay.