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The buy-to-let mortgage market grew for the first time in two years during the third quarter, figures have showed.

A total of £2.1 billion was advanced to investment landlords during the three months to the end of September, 10% more than during the previous quarter, the Council of Mortgage Lenders said.

But despite the improvement, the figure was still the second lowest since records began in 2006 and well down on the peak of £12.4 billion which was lent during the third quarter of 2007.

There was also a 10% increase in the number of buy-to-let mortgages advanced during the three months, at 23,700, up from 21,600 during the previous quarter.

Source – Press Association – http://www.google.com/hostednews/ukpress/article/ALeqM5grnCX0gpcdRIO60b52B5zOAisOpQ

According to a BBC News report:

UK house prices were higher year-on-year in October – the first annual rise for 19 months, the Nationwide has said.

Property prices were 2% higher in October than in the same month the previous year, with the average home costing £162,038.

But the pace of monthly price rises has eased – going up by 0.4% – and the building society said that values could level out in the autumn months.

This could be due to more sellers returning to the market, it said.

Full story – http://news.bbc.co.uk/1/hi/business/8332861.stm