Experts have warned buyers face lengthy valuation delays due to a lack of surveyors amidst a buoyant housing market, and say problems could persist for the next six months.
An investigation carried out by Money Marketing sister publication Mortgage Strategy has found surveyors are struggling to bring in enough staff to cope with a booming market.
Posing as a borrower with a Halifax mortgage looking to buy in SW15, Mortgage Strategy found e.surv and Connells had stopped taking on instructions in the area, while Countrywide Surveying Services quoted a waiting time of two weeks for a valuation. Colleys quoted five to seven working days for a valuation.
E.surv business development director Richard Sexton has warns delays will be a feature of the market for at least the next six months.
He says: “We are seeing the volumes now that we saw in July last year. We have every reason to believe it will be a sustained problem from now until September or October when things slow down again.”
Countrywide Surveying Services managing director Paul Chapman says delays are to be expected, especially in London and the South East, while new staff are trained.
He says: “While the recent increase in activity in the housing market is welcome, it has put pressure on the surveying industry whose numbers have fallen due to those that left the industry during the downturn.”