According to the latest data from valuers, the UK housing market is now in better shape than at this same time last year. Property valuations are in high gear and posted a 13% increase during the month of April compared to the same time last year. First time home buyers are going strong, and remortgage activity is up on last year as well. These are not only good signs the market is headed in the right direction, but overwhelming confirmation the UK housing market is full of healthy momentum heading into the buying season.

John Bagshaw of Connells Survey and Valuation believes in the reality of the figures which are being produced in the housing market. He estimates the strong figures across the board in housing will continue into the new Parliament.

He commented on the impact of the general election, saying: “The latest monthly dip from March is generally a seasonal effect at this time of year so if this monthly slowdown continues further we’ll know that something has changed more fundamentally. Yet so far, there is no sign of a serious housing market slowdown.”

According to the details of the data, remortgaging took the top spot in regard to activity within the housing market, growing more than 24% compared with the same month last year.

Bagshaw continued, saying: “Inflation is at zero and there’s little sign that the Bank of England will need to raise the base rate imminently. In the meantime mortgage rates have plummeted to the lowest level in over four years. Thus, many households may be capitalising on this period by refinancing to a fixed mortgage.”