In May 2016 18% more valuations took place than May 2015 – with valuations for first-time buyer and remortgagors standing 37% and 42% higher than last year.
Valuation activity was stronger year-on-year in May despite the so-called uncertainty leading up to the EU referendum on 23 June, research from Connells Survey & Valuation has found.
In May 2016 18% more valuations took place than May 2015 – with valuations for first-time buyer and remortgagors standing 37% and 42% higher than last year.
The buy-to-let market contracted significantly after the rush to buy properties before the 3% stamp duty surcharge came into force on 1 April however, with buy-to-let valuations falling by 36% year-on-year.
John Bagshaw, corporate services director of Connells Survey & Valuation, said: “Compared to the gloomy picture painted by some, activity is looking remarkably resilient ahead of June’s housing market.
“Some month-on-month cooling could still be a result of stamp duty changes that came into effect at the start of April.
"However once that stamp duty-related instability has passed, there appears to be a steadier annual growth and a more positive outlook for the housing market. Even if the EU referendum does have a measureable impact, one thing is clear – any slump hasn’t happened yet.”
