June valuations surge 23%

Overall, there were 23% more property valuations conducted in June 2015 than in June 2014. June’s valuation activity total also represents a 42% increase on May 2015.

Valuations for established owner-occupiers moving home were especially strong, up 34% in June compared with the same month in 2014. The month-on-month figure for home-movers was even stronger, with June’s valuation activity climbing 51% compared to May.

John Bagshaw, corporate services director of Connells Survey & Valuation, commented:

“Britain’s property market is experiencing an early summer bounce, with all areas of demand for valuations showing strong growth.

“Home movers in particular are showing a very different sentiment to that seen in April and at the start of May, after the surprise certainty of the General Election result. Home mover demand is growing faster than the overall market trend and even outperforms the recent stalwart of the housing market, buy-to-let.

“Rising optimism is being fuelled by wage inflation and a more tangible sense of economic progress.”