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House prices are continuing to fall across the UK, meaning there are going to be more and more bargains in 2008.

House prices across the UK plummeted in November, according to the monthly market report from the National Association of Estate Agents.

It found that from October to November, the average price of a flat fell from £118,334 to £114,288 while a terraced house reduced in value from £151,305 to £149,589.

The average semi-detached property, worth £199,905 in October, is now worth £192,042 while the average detached property fell in value from £291,592 to £287,922.

This is great news for potential property investors. Obviously, the lower house prices fall, the better chance of being able to afford a buy to let investment.

Chris Brown, president of the NAEA, says: “The market is still waiting to feel the impact of recent interest rate cuts, and if the major lenders commit to making mortgages available to those who want to buy then the market should improve next year.

"The demand for property is there – so in 2009 we need political will, professional integrity and financial commitments."

To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog