As we look forward to what 2022 might have in store for the housing market let’s take a quick walk down memory lane to see what happened in the housing market in 2021.
According to the Nationwide, the average UK property price rose by a staggering £30,000 in 2021 and even following the fears that the market night falter once the
Stamp Duty Holiday came to an end in September, the market remained strong.
However, despite the strong demand and high prices, there was a considerable lack
of stock available for agents to advertise. Nationally, the number of new properties on
the For Sale market in April 2021 was 16% lower than two years ago, and a massive
28% lower than five years ago.
So, what does this mean for the forthcoming year?
New Year is usually one of the busiest times for estate agents and we’re expecting this
year to be no different.
With house prices currently showing no signs of plateauing or dropping Rightmove is predicting a 5 per cent growth in property prices for 2022 and Zoopla a more conservative 3 per cent growth for the year.
First Time Buyers who are hoping to get their first foot of the New Year onto the property ladder may find themselves paying more for their first house than they
had budgeted for and particularly if house prices exceed the current property market
expert’s predictions.
However, those looking to sell their house this year, could find that January is the
ideal time to list their property as it’s still statistically the best month to sell and the
buyer ‘buzz’ hasn’t yet faded from last year.
If you are looking to sell your house in 2022 please contact a member of our Award Winning Team to find out how RF&O can help you through the selling and buying process.