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First-time buyers boost the housing market
10 January 2012
A resilient end to the year means that the fourth quarter of 2011 outperformed the same period in 2010.
The Housing Market Activity Report carried out by Connells Survey and Valuation has shown that the total number of valuations carried out in December fell by 14%. This is the lowest seasonal drop in valuations since 2007.
The demand for valuations in quarter four has increased a massive 71% since the same quarter 2010. In a year on year comparison, 2011 saw 43% more valuations than in 2010.
Corporate Services Director, John Bagshaw of Connells Survey and Valuation commented on Property Wire that: ‘The seasonal Christmas slowdown may have set in during December, but the monthly dip was much smaller than in recent years. Better than expected lending figures as banks and building societies hurried to meet full year targets helped drive the annual increase in valuation activity in the run up to the new year , a welcome contrast to the situation last December, which saw a dismally low level of lending.’
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