Connells Survey and Valuation revealed the total number of residential property valuations last month rose by 3% in comparision with October 2009.
Remortgage activity also saw substantial increases last year after the market was at its worst in terms of activity in 2008.
Ross Bowen, managing director of Connells Survey and Valuation, said: “We may be seeing the approach of winter dampen the number of buyers on the market, but valuation activity is in better shape than last year. That is including the surge in late 2009 when buyers rushed to buy properties before the end of the Stamp Duty.
He added: “With cheaper fixed rate deals on the market and concerns over a potential interest rates hike, those who can afford to are remortgaging to avoid a future jump in monthly mortgage repayments.”
First-time buyer activity dropped in October, with the number of valuations down 23% compared to September, and a fall of 29% compared to October 2009.
Bowen added: “We are still seeing many first-timers being reined in by strict lending criteria, and confidence is also a factor, given the uncertainty over employment situations.
“But there’s also a growing supply of properties available as well as signs that vendors are beginning to become more flexible over the prices sought.”
Buy-to-let valuations fell by 14% last month; however it still represented 45% growth compared to the year before.
