UK property recovery marches on

During the month of March the UK property market continued to gain momentum with home valuations increasing by more than 20 per cent from the previous month.

Latest figures from connells Survey and Valuation teams show that the first three months of this year have seen a much higher level of activity in the valuation stage of the UK property business from the same period in 2009.

Spring is traditionally a time of increased interest in the property world and this data supports the ongoing recovery of the housing market. The recent decision by the Chancellor to lift the level of stamp duty has yet to affect figures but is bound to have a positive result in the coming months.

The report reflected an increase in existing property owners looking to move up the property ladder as well as a notably increasing amount of buy to let investors returning to the market. First time buyers are still struggling to find the large deposits now required but new mortgage products are joining the market weekly which will support the continued recovery of the UK property business