Connells reports surge in seller confidence
by Gill Montia
Connells Survey & Valuation has reported a surge as seller confidence in June, the first clear month in which Home Information Packs have been abolished.
The nationwide property valuation service saw a 20% rise in valuations, compared with a year earlier, taking volumes in the second quarter of 2010 up 13% on the same period of 2009.
However, first-time buyer volumes increased by a mere 1% in June, compared with a year earlier, while valuations for homemovers rose 24% year-on-year.
Volumes for remortgagors soared by 30% on May, representing a year-on-year increase of 53% and suggesting that more homeowners are now looking to remortgage ahead of anticipated interest rate rises.
Finally, there was strong annual improvement in the number of valuations for buy-to-let investors looking to add to their portfolios, with valuations up by 10% in June compared to May and by 12% on an annual basis.
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Tags: 2010, abolished, buy-to-let investors, confidence, Connells Survey & Valuation, first time buyer, Home Information Packs, homemovers, interest rate rises, June, remortgagors, second quarter