First-time buyers need the best fixed mortgage deals before 24th March.

First-time buyers are looking to beat the end of the stamp duty holiday with lenders best fixed mortgage deals. According to the latest Housing Market Activity Report by Connells Survey and Valuation, mortgage market activity was bolstered in January by a first-time buyer rush.

Figures for the total number of house valuations in January this year, show a year on year increase from January last year with 43 per cent more valuations. It is not all good news though as January's figures show a slight reduction on a month on month basis. December figures however showed the valuation market’s strongest December performance since 2007.

Increasing demand from first-time buyers seeking lenders best fixed mortgage deals was a key factor in the annual growth. The number of valuations conducted for first-time buyers rose by 52 per cent compared to the previous January. First-time buyer demand accounted for 32 per cent of all valuations completed which is the highest proportion since June 2011.

John Bagshaw, Corporate Services Director of Connells Survey and Valuation, commented that “comparison against the strongest December since the downturn masks the underlying strength of the valuations market in January. The ongoing affordability of best fixed mortgage deals, not to mention lenders’ increasing commitment to higher loan to value lending, has helped boost valuations activity. He added that "However, there has also been a strong uplift in first-time buyer activity, with new buyers rushing to beat the end of the stamp duty holiday in March. In turn, this has unlocked activity further up property chains.”