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.