Valuations up 50% at Connells
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Connells Survey & Valuation saw its number of valuations in November jump by over 50% compared to the same time last year.
The latest data from the firm shows that in October and November alone, the number of valuations conducted was 40% higher than for the whole of Q4 2008.
Valuations for buy-to-let investors rose by 7% in October and November compared with Q4 2008, with transactions increasing by over a third on last November.
There was also two-thirds more valuations for first-time buyers last month than recorded for November 2008, though Connells notes that this is from a relatively low base.
Ross Bowen, managing director for Connells Survey & Valuation, says: “Despite fears over the effects of rising unemployment and an uncertain economic backdrop, we’ve seen the housing market stage a modest recovery.
“The upsurge in the number of valuations conducted is another sign of the distance the market has travelled since 2008.
“If this recovery in activity levels continues in the same vein, we should see a far more positive start to the new year.”
Readers' comments (2)
Anonymous | 4 Dec 2009 3:33 pm
What we need rather than more valuations are valuers actually pricing a house correctly. Ive had them downvaluing purchases with is riduculous. The value of a property is what someone is willing to pay not what a donut with a clipboard creates in their head.
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Jon D'Costa | 7 Dec 2009 12:18 pm
Connells are a first class firm led by a bright and hardworking MD in Ross Bowen. It's good to end the year with some positive news.
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