Growing confidence in the housing market has seen property valuations rise by over +50% on November 2008, according to Connells Survey & Valuation.

Existing homeowners have been particularly active compared to the previous November, with nearly double the number requesting a valuation on their property. In October and November alone, there have been +40% more valuations conducted for homeowners than in the whole of the fourth quarter in 2008. With requests by buy-to-let investors rising by +7% in those two months, compared with the fourth quarter of 2008, while transactions increased by over a third on last November.

Ross Bowen, Connells Survey and Valuation’s managing director, said: “The upsurge in the number of valuations conducted is another sign of the distance the market has travelled since 2008. We have seen a year-on-year increase from all types of homebuyer. We are seeing the effects of gradually increasing optimism in the housing market - boosting the demand for property from all types of purchaser. If this recovery in activity levels continues in the same vein, we should see a far more positive start to the New Year.

“The current housing market is attractive to both homeowners looking to move and property investors. Some of the value lost by homes has been recovered, prices are on the up, and for cash-rich investors who are less likely to need mortgage finance, the housing market is ripe for investment. Rents have risen since 2008, properties are still affordable and beginning to show improved returns for investors who have bought recently.”