Valuers have experienced a busy summer, indicating healthy sales pipelines.
Connells Survey & Valuation states that its valuation activity in July was 57% higher than July last year.
Although there was a seasonal monthly drop of 24% in July compared to June, valuation activity for first time buyers rose by 40% on last year, by 48% for home movers and up a huge 76% for buy-to-let purchasers.
Ahead of the imminent base rate rise, remortgaging activity also soared by 75% compared with July 2014.
Corporate Services Director of Connells Survey & Valuation, John Bagshaw, says: “Housing market momentum is only getting stronger. Moreover, the yearly figures indicate that first time buyers are showing no real hesitancy in getting on the ladder.”1
Comparing this year’s 57% growth to last year, July 2014 saw valuations drop on a monthly basis to 21%, but rose by only 14% annually, compared to July 2013.