Property market round-up - 2006

Twelve months is a long time in the property game, and 2006 has had its fair share of headline grabbers. We look back on the year that was - rising house prices, dodgy estate agents, HIPs, mates' mortgages...

1. Property prices

   Property prices overall are still on the up, though national figures disguise larger regional differences, so check average prices at a local level and house prices in your postcode. According to the Land Registry and the Registers of Scotland, the average price of property in England and Wales stands at 169,569 - but average regional figures differ from 119,775 in the North East compared to over 300k in London. In Scotland, prices are 142,355.

2. Home Information Packs

   Despite U-turns and loud opposition, HIPs are still due to become a compulsory part of selling property from June 2007- but without the most controversial element, the home condition report. Energy performance certificates, another element of the report, caused a stir and put the focus on making homes greener and saving energy

3. Estate agents uncovered

   Back in March, the BBC shed light on some shady goings-on in the estate agency world - false offers, forging documents and even supplying illegal passports. Undercover journalist Anna Adams reported: "I would never have suspected that an estate agent would go to such lengths to make a sale... I discovered a litany of dishonesty, deception, deceit and outright criminality." Since then the Ombudsman for Estate Agents has launched a new code of conduct for estate agents to help put a stop to dirty tactics in the future.

4. Buy-to-let boom

   The buy-to-let market continued to flourish and is now worth 120bn in housing assets, according to the Association of Residential Lettings Agents. An estimated 20-30,000 new buy-to-let tenancies are expected every year for the next ten years - due to young people renting for longer and increased confidence in property investment.

5. First time buyers continue to struggle

   More first time buyers took the plunge into property ownership - but took on a bigger financial burden to do so. New buyers needed an average income of 34,000 and mortgage of 110,500. This meant borrowing 3.24 times their income - a new high, according to the Council of Mortgage Lenders. And over half are now being stung with stamp duty.

6. More mortgages, more choice

   2006 was a record year for mortgage lending, at an all-time high of 33bn in August. It was also the year lenders extended their more creative offerings - life long mortgages lasting 60 years, deals lending up to five times your salary and mates' mortgages shared by up to four people.

7. Supermarket and DIY sales

   In April, Asda announced they would be taking on estate agents with the launch of their Homes @ Supermarkets scheme, an instore estate agency service with cut-rate prices. Trials began in the North East and will be going nationwide in 2007. The spotlight also fell on online services for selling your home privately, cutting the middleman out altogether - one to watch for the coming year.

8. Best and worst?

   Winchester was voted the best place to live in the UK this year by Channel 4 in October, while Hackney was hailed the worst. Read our verdict on the show, and look out for our follow-up feature where we get the real story from the locals.

• Read our predictions for the property market in 2007