Connells claim to see 'sustained' recovery in market
Friday 15th April 2011
Despite high numbers of unsold stock on agents’ books outside central London, Connells surveying arm has claimed that it is seeing a ‘sustained’ recovery in the housing and mortgage market.
Connells Survey and Valuation has also claimed that housing market activity is being buoyed by first-time buyers and the buy-to-let sector.
The business said that last month, its valuation work increased by 5% compared with February, and that in the first three months of this year, valuations were 24% up on the first quarter of last year.
Connells said there was an encouraging increase in the number of first-time buyers entering the market in March, with 21% more valuations for first-timers than in February, and 26% more in the first quarter of 2011 than in the previous quarter.
It said 34% of all valuations were for first-time buyers, whilst buy-to-let valuations rose 14% compared with March a year ago.
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