UK mortgage market growth slowing, says valuers

The UK mortgage market is growing at its slowest annual rate in two years, according to the latest Housing Market Activity Report by Connells Survey & Valuation.

While the total number of residential valuations conducted during June rose by 16%, on an annual basis this represented an increase of just 2%, the slowest annual growth since July 2010.

Although first time buyer numbers climbed by 19% during the month as the short term effects of the stamp duty deadline rush dissipated, there were 1% fewer than a year ago, pointing to the historically difficult conditions for many would be buyers.

Buy to let investors also continued to grow annually, with 16% more than in June 2011. Buy to let remortgagors also provided a bright spot for the remortgage market, with 32% more investors seeking to remortgage than a month ago.

Read the full story at Property Wire

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