Valuations fell by 22% between March and April but remortgage and first-time buyer valuations rose by half (50%) and nearly half (46%) year-on-year.
Market activity slowed between March and April for the third year running but was stronger than last year, a Connells Survey and Valuation report has found.
Valuations fell by 22% between March and April but remortgage and first-time buyer valuations rose by half (50%) and nearly half (46%) year-on-year.
The market has slowed between March and April every year since 2013, as activity declined by 32% in 2015.
John Bagshaw, corporate services director of Connells Survey & Valuation, said: “April’s property market is experiencing some vibrant long-term growth, regardless of any short-term indicators.
“The monthly downturn the valuation sector has experienced overall is a reflection of an historic trend which sees housing activity typically sink somewhat after a New Year surge.
“However, this year’s dip has not been as protracted as that of previous years’ – a sign the property market is becoming robust enough to endure these cyclical market forces.
“The longer-term picture is even more positive. As house prices continue to rise and interest rates remain at record lows, ever more people will be drawn to the property ladder.”
