The number of residential mortgage valuations in February was up by nearly a quarter year-on-year, according to Connells Survey and Valuation.

In February, the total number of valuations for residential property also increased by 53% compared to the previous month following the end of the seasonal period.

This is the third successive month in which residential mortgage valuation activity has risen year on year.

Connells argues that in part, increasing activity has been driven by a strong growth in the number of vendors entering the market and looking to move. In February, there were one fifth more valuations for homeowners moving home than a year ago – a rise of 81% month on month. With 35% of all valuations conducted on behalf of home movers, this is the highest proportion of all Connells’ valuations since June 2010.

Paul Staley, corporate services director of Connells Survey and Valuation, said: “It’s too soon to say the market has turned the corner