As conditions within the Housing Market improve and more sales are agreed, the demand on the region’s surveyors increases.
We have been reporting on the improved conditions that the housing market is experiencing over the last few months with sales picking up across the country. With the increase in activity has been an increase in the number of valuation appointments the regions surveyors have needed to attend.
During September the volume of residential valuations was 55% higher than August and 65% higher than September 2012.
According to chartered surveyors Connells Survey & Valuation, there was growth in every sector of the market, including buy-to-let and first-time buyers, as well as remortgaging.
Particularly strong growth was recorded in the areas of buy-to-let and remortgages, with 66% and 64% monthly acceleration respectively. First-time buyer activity grew 52% on August, and 54% on September last year.
There were also 46% more valuations for home-movers compared with August – 52% up on last year.
John Bagshaw, corporate services director of Connells Survey & Valuation, said: “September has felt like a tipping point. A year since the first real effects of Funding for Lending, and five years since the collapse of Lehman Brothers, the financial world appears to be at the start of a much sunnier period.
“In just 12 months, the situation has shifted unrecognisably. However, if it were not for record low product rates, many families could now be struggling to pay their mortgage. The real question now is how long these excellent new deals can last before the Bank of England decides to raise interest rates.”
Ryder and Dutton’s Survey Department have also seen an increase is demand for surveys, as during September we carried out a staggering 141 surveys on properties within the area. We also found this was from a variety of sources including buy-to-let mortgage valuations, re-mortgages as well as mortgage valuations for new property sales.
Our Survey and Valuation Department are able to offer a variety of competitively priced different survey options including Building Surveys, RICS Homebuyer and Condition Reports and Valuations for a variety of purposes.
The service is provided by Chartered Surveyors with a wealth of experience and extensive local and regional knowledge.
To discuss your survey requirements speak to a member of the team on 0161 925 3255.