March saw a strong lift in housing market activity with seven per cent more residential mortgage valuations conducted compared to 12 months ago, data from Connells Survey and Valuation has shown.
This is the fourth successive months in which residential mortgage valuation activity has risen year-on-year. Connells claimed this indicated a "sustained" recovery in the housing and mortgage market.
In the first three months of 2011, valuation activity was 16 per cent higher than in the same period a year ago.
In March, the total number of valuations for residential property increased by five per cent compared to February, while the first quarter of the year saw 24 per cent more valuations conducted than in the previous quarter.
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