Valuations activity on the up as autumn arrives

Housing market activity has climbed to its highest level for six months, a major valuations firm said this morning.

Last month, Connells Survey & Valuation reported that it carried out the second highest number of valuations on record – and 29% up on a year ago.

John Bagshaw, corporate services director of Connells Survey & Valuation, said: “Britain’s housing market is going from strength to strength.

“Against a brightening economic background, players in all parts of the market are feeling more confident about their prospects.

“Valuation activity is growing beyond the seasonal pick-up at the end of August, with year-on-year growth gathering momentum.”

The number of valuations carried out specifically for first-time buyers rose by a quarter (25%) in September compared to the previous month of August. The figure also represents an 18% increase compared to September 2014.

Valuation activity among established home-movers performed even better. The number of valuations carried out for those moving house rose 26% when compared to last month and 23% since September 2014.

The number of valuations carried out for remortgage purposes shot up 16% on August, and 49% on September last year.

Buy-to-let valuations were up 21% on a monthly basis, and 13% annually.

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