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Connells reveals valuation dip

The number of valuations undertaken last month dipped by 4% year-on-year, according to Connells Survey and Valuation.

But this comes ahead of the general election tomorrow and contrasts with the bigger picture, with valuations actually up by 3% in the three months to April 30. This is a 43% increase year-on-year.

Ross Bowen, managing director of Connells Survey and Valuation, says: “The housing market has continued to recover steadily. There were concerns that in the build-up to the election, buyers and sellers would be distracted and sit on their hands, but that hasn’t been the case.

"Confidence is returning and this has been helped by marginal improvements in mortgage availability and news of the doubling of the stamp-duty threshold. In the past three months, the housing market has performed better than the same time in 2009."

He adds: “Election fever hasn’t derailed the recovery of the housing market. Consumer confidence continues to grow, and we are in a much better position than in 2009. But we need to wait until the dust has settled after the election to see what new policies will follow, and the role the new government will play to build the market.”






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