Private landlords and other homeowners in the UK saw the average property price grow 1.1 per cent between June and July 2009.

At least that is the view from Halifax's latest House Price Index, which also indicated that there was a 0.8 per cent rise in prices during the three months to July, compared to the previous three-month period.

With the value of housing apparently on the up, private landlords may see now as an ideal time to add to their portfolios.

Chief economist at Halifax Martin Ellis stated: "Demand for homes has risen, albeit from a very low base, since the start of the year, driven by improvements in affordability and low interest rates."

The interest rates he referred to are widely expected to remain at 0.5 per cent for the rest of 2009 - and perhaps even longer than that - as the Bank of England looks to keep the cost of borrowing as low as possible.

Written by Mark Garner
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