New builds 'best value' in 2009

New build properties look set to become the best value option for housebuyers in 2009, it has been claimed.

Lee Grandin, managing director of buy-to-let loans specialists Landlord Mortgages, told the Yorkshire Post: "It will be a slow start for the first six months, then we'll gather speed with purchases more frequent among professional landlords.

"Investors should always look for a nine to ten per cent yield before the cost of servicing the mortgage."

Meanwhile, Ashley Kind, the managing director of Simply HIP, said house prices are likely to stay the same in many areas of the country throughout next year.

Mr King, whose company specialises in providing home information packs (HIPs) to solicitors and estate agents, also said some regions may see further falls in prices of up to five per cent.

Recently released data from the Land Registry showed that house prices continued to fall in November.