The number of residential valuations so far this year has jumped 1% of activity that took place at the peak of the housing market in 2007.
The claim comes from Connells Survey & Valuation, a national group, which says it is conducting 54% more valuations than a year ago, and that there were 36% more valuations this June than in May.
Director John Bagshaw said: “It’s been six years since there was such a heady atmosphere in the housing market.”
Much of the revival in activity is due to a surge in remortgaging, he said. The number of remortgaging valuations in June was 94% up on June last year, and 54% up on May.
Buy-to-let valuations are also sharply up, by 59% annually, and by 32% on a monthly basis.
However, valuations for first-time buyers have also risen – 44% up on June last year – to make up 31% of the valuations market. Valuations for home movers, up 40% annually, make up 32% of all valuations activity.
Comments
Hmmm... methinks Connells are picking up all the vals that the others apparently can't service/don't think are worth the hassle/are scared/add your own innovative excuse here to do!