The number of residential property valuations conducted in June was 20% higher than in May, according to the latest research by Connells Survey and Valuation. This represents an annual increase of 16%.
Valuation activity in the second quarter exceeded levels in the first quarter of the year by 9%. This positive trend was not a seasonal phenomenon. In the second quarter of 2010, there were 13% more valuations than the same period last year.
The strong performance of the valuations market in June has been underpinned by the increasing number of homeowners looking to move. The number of valuations for home movers was up 6% month-on-month – following a rise of 26% in May. As a result, nearly a quarter more valuations were conducted in June 2010 compared to June 2009 (+24%).
Ross Bowen, managing director of Connells Survey and Valuation, said: “Summer has brought a seasonal uplift in activity. But this has been exaggerated by the decision to discard HIPs. In June