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Summer bounce arrives in housing market

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Tue 07 Jul 2015

Summer bounce arrives in housing market

A national valuations firm has reported a strong rise in activity post-election, with a 23% rise in valuations last month compared with June last year.

Connells Survey & Valuation said it conducted 34% more valuations for home movers than a year ago, 16% more valuations for first-time buyers, and 24% more for buy-to-let investors.

As well as being up on an annual basis, there were also more valuations on a monthly basis – a rise of 51% in the case of home movers and 42% for first-time buyers.

John Bagshaw, director at Connells Survey & Valuation, said: “Britain’s property market is experiencing an early summer bounce, with all areas of demand for valuations showing strong growth.

“Rising optimism is being fuelled by wage inflation and a more tangible sense of economic progress.”

Rosalind Renshaw, July 8, 2015, www.propertyindustryeye.com