The remortgage and buy to let market have been experiencing considerable demand. One due to the rush to beat a base interest rate hike by the Monetary Policy Committee (MPC) and the other due to more demand from renters. Valuations for these two areas naturally showed an increase. Overall valuations increased not only for January over December but for year-on-year comparisons for January.

According to recently released data from Connells Survey and Valuation there was a 27 per cent increase in valuations for January 2011 when compared to January 2010. When valuations overall for January were compared with the previous month of December there was a 9 per cent increase.

Remortgage seekers have been shopping for a great deal before a hike in the standard base interest rate occurred. The number of valuations for Connells has increased considerably. The increase in remortgage valuations for January over December was more than one third at 35 per cent. When compared to previous years, it was the largest margin increase since December 2008. The valuation group also revealed that currently remortgage valuations make up over 25 per cent of all their valuations.

The buy-to-let market has had a huge demand on them from renters. This has led not only many to enter the market as first time investors but others in the market to add to their portfolios. The number of valuations on would be buy-to-let properties increased from December to January by 8 per cent. This was the second successive month that valuations in the buy-to-let market had shown an increase.

There was also a reported increase in the valuation markets for both first time buyers and homemovers for January. Potential first time buyer valuations increased by 10 per cent and those hoping to move home increased just a bit less at 9 per cent. It was noted by a spokesperson for Connells that January did absorb valuations that were delayed in December due to the holiday and inclement weather but other factors such as interest hike warnings and continued demands on specific markets will see February valuation data just as strong.

Paul Staley, corporate services director of Connells Survey and Valuation, in response to the recent data said: "The onset of Christmas - and December's arctic weather - boosted activity in January.

"A large proportion of valuations were rescheduled in December, and many borrowers and buyers delayed decisions until after the New Year. But the seasonal phenomenon doesn't mask the underlying positive trend of growth, driven by a strong pick up in buy-to-let investment and remortgaging.

"We've seen a very strong start to 2011, and if activity continues in a similar vein throughout the year, we will see further growth in the valuation sector."

"Despite the seasonal lull in the rental market, rents have remained robust, and prospective landlords are taking advantage of the increasing number of products entering the buy-to-let mortgage market.

"However, remortgaging levels are also climbing. The very public and ongoing debate amongst MPC members over raising interest rates has also encouraged many borrowers to take advantage of low fixed remortgage rates, and lock in before an interest rates hike."