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First-time buyer activity ramping up, say mortgage valuers

Wednesday, August 13, 2014

More evidence of increasing first-time buyer activity has come from a firm of national valuers.

Connells Survey & Valuation says that valuations of first-time buyer properties were 23% higher last month than in July a year ago.

Although there was a seasonal monthly dip of 17% in first-time buyer activity, Connells says this is low.

The firm says the total number of valuations it carried out in July was 14% up on July 2013, and 21% down on June – in line with an average 22% dip between each June and July since 2007.

Meanwhile, Just Mortgages, Spicerhaart’s mortgage arm, says that in July, first-time buyers accounted for 46.5% of all mortgages written.

The firm also says that new instructions at its 200-plus branches were 7.3% up, with a 2.8% dip in applicants compared with a year ago.

House sales were up 7.7% in July compared with June, and up 9.8% on last July.

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