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Valuations activity boosted by strong buy-to-let activity in November

The number of valuations conducted by Connells rose 3 per cent in November after a strong performance from the buy-to-let sector.

Residential valuations rose 3 per cent, year on year, although the latest figure represents a monthly drop of 1 per cent.

Connells Survey & Valuation corporate services director John Bagshaw says: “November was far from a stellar month for the mortgage market by historic standards, but valuations activity saw annual growth for a second successive month. The seasonal monthly drift down we’d expect at this point in the year has been less pronounced than in previous years – although success has been confined to certain parts of the valuations market, with buy-to-let a star performer.”

The buy-to-let sector experienced a 14 per cent rise in activity, on a monthly basis, meaning buy-to-let valuations comprised 16 per cent of the market in November – the highest since 2007.

First time buyer activity dropped 8 per cent compared with October but remains 4 per cent stronger than a year ago. FTB valuations represented the lowest proportion of valuations since March in November, accounting for 30 per cent of all residential valuations.

Valuations for home movers rose 7 per cent in November while remortgaging activity saw the largest annual falls, dropping 11 per cent between November 2011 and November 2012.


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  • Bob gardner 10th December 2012 at 10:55 pm

    Usual drivel from Connells. John Bagshaw how about a new year resolution to stop wasting your time writing this nonsense!
    These figures dont represent the market as a whole, they just represent the competitiveness or otherwise of the lenders on connells panel who reciprocate with valuations! Eg if the top five lenders on its panel have poor rates then little business generated to reciprocate with and John tells us market quieter…. Its rubbish market info so please stop!