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Valuation volumes rise 52% year-on-year

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  • 05/02/2016
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Valuation volumes rise 52% year-on-year
Valuation activity in January increased by more than half compared to the same time last year, according to research from Connells Survey and Valuation.
The total number of housing valuations carried out in January climbed 52% compared to January 2015. Valuations also increased by 13% from December 2015 to January 2016.

John Bagshaw (pictured), corporate services director of Connells, said: “The UK housing market has shaken off the traditional seasonal slump that it typically experiences in December and is beginning to make progress once more.

“With the financial strain of the festive period behind them, buyers and remortgagors have the space and resources to focus their attention on climbing the property ladder again.”

The buy-to-let and remortgaging sectors were the main drivers behind the strong growth in overall housing activity in January, according to Connells.

The number of valuations for buy-to-let purposes grew by 51% between January 2015 and January 2016, while the remortgaging sector soared by 97% over the same 12-month period.

Annual valuation activity among homeowners looking to move grew by 27% in January, while there was a 15% rise between December 2015 and January 2016.

Valuation volumes among first-time buyers in January grew 22% on an annual basis and 5% on a monthly basis.

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