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TODAY'S OTHER NEWS

Surge in valuations, especially amongst owner-occupiers

June has witnessed a surge in residential valuations according to Connells. 

It says there were 23 per cent more property valuations conducted last month than in June 2014, and that last month’s valuation activity total also represents a 42 per cent increase on the previous month.

Valuations for established owner-occupiers moving home were especially strong, up 34 per cent in June compared with the same month in 2014 and more than 50 per cent higher than May 2015. 

On the first rung of the housing ladder there was comparatively less growth. Valuations in June for first-time buyers saw annual growth of 16 per cent compared to the same month last year, but the equivalent of 42 per cent up on the month before.

Meanwhile, the number of valuations for those pursuing purchases in the buy-to-let market rose 24 per cent compared with June 2014 and 22 per cent compared to May 2015.

The number of valuations for those remortgaging their property rose 17 per cent in June compared to the same month in 2014, on the back of 44 per cent month-on-month growth.

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