Valuations healthy despite pre-poll slowdown...

While many agents reported business slowing in the run-up to the election, there was quite different news coming from Connells Valuation - a 13 per cent rise in property valuations conducted in April over the same month a year earlier.

Connells reports that remortgaging in April has outperformed the overall housing market, posting a 25 per cent growth on the same month last year.

The buy-to-let market, while experiencing the sharpest month-on-month decline compared to other sections of the market, contracting by 36 per cent in April - but even so it has still seen annual growth at a healthy 29 per cent .

There has been a slower pattern of activity among first-time buyers. The number of valuations carried out on behalf of new buyers fell by 33 per cent in April compared to March. Meanwhile valuations for established home movers contracted 27 per cent compared to March and grew by three per cent over the last 12 months since April 2014.

“First time buyers have had bundles of extra support over the last five years – but still not quite enough to power any serious growth in the number stepping onto the property ladder for the first time. This might disappoint some, especially with the plethora of government schemes to boost first timers” says a Connells Valuation spokesman.