Mortgage Strategy - Down-valuations fall sharply across the UK
The proportion of down-valued properties fell sharply in the second quarter as the housing market continues to recover.
According to figures from e.surv, given exclusively to Mortgage Strategy, 20.2 per cent of properties in England and Wales were down-valued in Q2, down from 23.7 per cent in the previous three months. This is the lowest level since e.surv began collecting the figures in 2008.
Trinity Financial product and communications manager Aaron Strutt says the figures show that the housing market is showing signs of returning to “normal”.
He told Mortgage Strategy: “Clearly we’re seeing a return to a more normal dynamic between buyers and sellers. There is a lot of talk as well about the London market slowing down in recent months.”
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