House prices were changed very little through 2005 but mortgage levels rose, according to Moneyextra. The average mortgage value completed by customers in December 2005 was £143,643.48, up 14.74% on the same figure 12 months earlier.

The increase in mortgage values occurred against a background of broadly static house prices. The average property value being searched on Moneyextra in December was £207,850, up just 1.25% on year ago levels. However, that figure conceals wide variations in performance across the market.

Property values being searched against by first time buyers rose by 8.59% to £165,779 but property values being searched by those people looking to move actually fell back over the course of the year by more than £4,000 to £244,771.

The average mortgage being sought in December on Moneyextra’s website was £127,380 down 0.45% on the month. The values of mortgages being sought by movers and remortgagers fell while the value being sought by first time buyers rose 2.06% on the month to £135,116.