If property forecasts were to be believed then the market was supposed to take a nosedive in the last year, when in fact, house prices have soared; defying all of the expectations.

According to The Guardian “UK house prices rose by more than 10% in 2021, the fastest growth rate in 15 years”

 

So, how is 2022 looking?

 

2022 is proving to be fairly stable so far with a 3% growth rate predicted over the course of the year with the Midlands and the North-West tipped to be more active in the property market and the London area to remain low for now.

 

A combination of the pandemic and the stamp duty holiday, along with lifestyle changes and the public’s overall demand for rural areas in light of a rise in remote working kept the market rising last year, but it is thought that this year, as things settle down to more ‘normal’ conditions that growth and demand will also slow down. Higher mortgage rates coupled with a steady increase in general household outgoings will also have a hand in the overall quietening down of the property sector.

 

According to Zoopla, if you are a first time buyer in 2022, you will need to move quickly if you have your eye on a certain property to avoid missing out. Home movers have a better outlook on selling their home as demand is high but might find it difficult to find a suitable new property.

 

“22% of people currently want to move, significantly higher than the usual 5% in a normal market” – Zoopla.

 

The events of the last few years have seen some growing trends emerge. Combinations of lockdowns and good weather has seen a rise in interest of homes with swimming pools and game or cinema rooms installed. Sustainability is also predicted to have a big impact on the way homes are prepared, bought and sold over this coming year.

 

All in all, 2022 has been a difficult year to predict with the extreme figures that emerged last year but. When all the odds are factored in, growth seems as though it will slow significantly.

 

If you are a first time buyer or home mover who is unsure how to proceed in an uncertain property market, we can help. Our advisors are on hand with the knowledge and experience to help your next purchase or home move go smoothly. Feel free to contact our team here for a no-obligation chat.

 

Looking to sell your property? Take a look at the stunning properties that we currently have for sale in Nottingham, Long Eaton, Arnold, and the surrounding areas.