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House sales recovery finally here

15th October 2012

The estate agent says that its September residential valuations increased by 30% over August and July, but this brighter-looking figure is still 4% lower than the corresponding month in 2011.

Valuations for first-time buyers went up by 38% on last month’s figures and this increase in first-time-buyer activity was reflected in an annual increase of 8% overall.

John Bagshaw, Connells corporate services director of Survey and Valuation, said, “The housing market tends to pick up pace in September, entering peak season as the school holidays end and buyers return from their summer hiatus.

“However, in the context of a sluggish summer, exaggerated by the distraction of the Olympics, the strong uplift in activity demonstrates the underlying demand from buyers despite continued challenges in the economic environment.”

House sales solicitors across the UK will be hoping this upturn continues throughout the autumn months and that residential property sales continue to increase.

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