Mortgage market activity in the final quarter of 2011 outstripped activity a year ago, according to the latest Housing Market Activity Report by Connells Survey and Valuation.

The total number of valuations conducted during December declined by 14% on a monthly basis, a much smaller fall than the average drop of 20% between November and December since 2007.

During Q4 2011, valuation activity grew by 3% compared to the previous quarter, an increase of 71% compared to Q4 2010.

Throughout the whole of 2011, there were 43% more valuations than in the previous year.

John Bagshaw, corporate services director of Connells Survey and Valuation, said: “The seasonal Christmas slowdown may have set in during December