Housing activity in March has picked up, with valuations activity returning to levels not seen since March 2007, according to the latest Housing Market Activity Report by Connells Survey & Valuation.
The total number of residential valuations conducted in March showed growth of almost a quarter (24%) from the same month last year. This represents a sixth consecutive month of annual growth. On a monthly basis, the number of valuations grew by 29%.
First time buyer activity in March was also the strongest for six years, as 26% monthly growth brought the number of first time buyers to the highest level since March 2007. Of all sub-sections of the market, valuations on behalf of new buyers showed the fastest year-on-year growth, at 33%. This represents the seventh successive month of annual growth for first time buyers.