According to recent research made public by Connells Survey and Valuation, despite a slowdown in the amount of activity within the UK housing market in the area of property price growth, valuations activity grew almost 10% year on year last year. Considering monthly activity only, overall valuations fell around 17%. This is slightly less than the average decrease of 18% which is the average from November to December. This average has been the norm for the last four years.

John Bagshaw of Connells commented on the latest data concerning valuations within the housing market, saying: “This latest increase in valuations activity does contrast with more rapid expansion recorded earlier in 2014. But a more balanced and sustainable pick up bodes well for 2015.”

Data from the firm also indicates remortgaging within the market is at quite a strong point, as a sector. Year on year, remortgaging valuations increased an impressive 25% during the month of December of last year.

Bagshaw continued: “At the same time, the relative strength in remortgaging activity in December can be partly explained by the fact it isn’t as heavily influenced by seasonal factors. While home movers and first time buyers may typically avoid a busy upheaval during the festive period, for remortgages this period is not as disruptive.”

He added: “However, remortgaging has wind in its sales as we enter 2015. With the Bank rate set to remain at its historic low for some time, lenders will probably be able to offer even more competitive rates very soon.”