Property Valutation Survey and What This Means For You
Current research carried out by Connells Survey and Valuation suggests that the property market is at its best compared to information sourced between August 2014 and now. The sudden surge has been linked to the fear that current strong valuation deals will not be around for very long, mixed with current housing pricing options and renovation prospects. See below our summary of the survey carried out, and what this means for you.
48% Increase in Property Valuations
The increase in property valuations is thought to be due, in part, to current deals being extremely tempting. The fear that the cost of house valuations with rise is spurring home-owners on to having their property surveyed sooner rather than later; in order to take advantage of the present situation.
102% Increase in Remortgaging Valuations
Remortgaging valuations are currently trumping other property valuations,according to the survey. This is due to many property owners choosing to upgrade their current homes, rather than sell and move on. This could be due to a wide variety of reasons, such as the fact that planning permission is no longer necessary for home renovations such as loft conversions; giving growing families the opportunity to expand their home without going through a long winded and tiresome process.
Renovations in an property that you are already settled in, compared to selling and moving is also the easier and less time consuming option; which could be why many property owners are choosing to stay put for longer.
First Time Buyers and Buy To Let
Compared to last August, the amount of people moving home has increased by 30% with valuations for first-time buyers rising by 31% The government-backed support that is now available seems to be driving people to take the plunge and jump on the property ladder.
Valuations for Buy-to-Let have also increased by 29%, putting the market in good stead for potential renters in the near future.
What This Means For You
Whether you are looking to join the property ladder or are contemplating moving properties, the current valuation prices are estimated to increase in the near future, making the current property market an extremely profitable one for the time being. Whether you are looking to buy, rent or buy to let; this is the optimum time to get involved in the property market.
If you are looking to begin the process today, investing in a quality surveyor increases your chances of sourcing an accurate representation of where you currently stand. At Kutner, we have more than 20 years' experience at our disposal and can issue an accurate report that is always quality assured.
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