Buy-to-let mortgage borrowers who are snapping up bargain properties might continue to enjoy the current economic climate as a property survey today revealed further falls in UK house prices.

Cash-ready private landlords who can add to their portfolios while property values are low appear likely to enjoy promising rental yields and prospects of capital growth over the long term.

In addition, the National Landlords Association this week noted that some experienced landlords have been able to take advantage of cheaper mortgage rates after recent interest rate cuts from the Bank of England.

Data published in the Halifax house price index today revealed that the value of an average UK property fell by 2.3 per cent in February, despite a two per cent increase in values recorded the previous month.

Martin Ellis, housing economist at the bank, commented that rising unemployment and the availability of mortgage finance make it likely that "2009 will be another difficult year for the housing market".

As would-be property buyers switch to renting after being unable to get a mortgage, some private landlords could continue to benefit from this economic trend.ADNFCR-2002-ID-19058753-ADNFCR

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