The housing market in the United Kingdom has kicked off well this year as the overall valuation activity during the first month increased by more than half on its annual basis. This is according to the latest research conducted in the 2016.
In total, the figure of housing valuations climbed by 52 percent as compared to January 2015. This increase is said to be the fastest annual increase in the total valuation activity since July of last year when the volumes increased by 57 percent. The data coming from Connells Survey and Valuation also showed that the valuation activity across the entire housing sector increased by 13 percent in between 2015 and January 2016.
This great news of the property industry is also a positive note for those businesses engaged in painting and decorating both homes and commercial structures. The increase in valuation means that people will be more urged to invest as well in properly decorating and painting their homes.
The director for corporate services at Connells Survey and Valuation said that the recent pronouncement from the Bank of England regarding interest rates which will be kept at bottom levels in the near future boosts the activity in the market further. The report from the firm showed that buying and remortgaging sectors were actually the key drivers in the overall strong growth of the housing activity in January 2016. The number of valuations for the buy purposes grew by at least 51 percent between January 2015 and January of this year. The remortgaging sector on the other hand soared by a staggering 97 percent in the same twelve-month period.
Both of the aforementioned sectors experienced steadier performances every month. Meanwhile the remortgaging activity in January represented a 12 percent dip from the previous month.
The promising buildup in the housing sector means that the painting and decorating companies will also be doing well in the foreseeable future. If you want to have your house repainted or decorated, you may contact Arthur Fitzhugh, an expert in the field. His expertise in the industry has made him a reliable service provider in the industry.