Residential valuations have reached their highest level for six months according to Connells’ survey and valuation group.
Valuation activity in September was up 29 per cent compared to the same month last year but again in was remortgaging rather than purchasing that provided the stand-out performance.
The number of valuations carried out specifically for first-time buyers rose by a quarter in September compared to the previous month of August. The figure also represents an 18 per cent increase compared to September 2014.
The number of valuations carried out for those moving house rose 26 per cent when compared to August and 23 per cent since September 2014.
The number of valuations for re-mortgagers rose 16 per cent on August of this year but a whopping 49 per cent since September 2014.
Meanwhile the buy-to-let sector has seen steadier growth, with the number of valuations growing 13 per cent since September last year. On a monthly basis, valuations activity carried out on behalf of buy-to-let investors grew by 21 per cent compared to August.
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Fantastic to hear that the number of valuations for first time buyers are on the up, I can see we've definitely seen an increase in our estate agency in Hackney.I wonder if the buy-to-let sector has steadied due to the recent tax cuts? Interesting to see how that plays out over the coming months.
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