What are the UK housing market predictions for 2022?
2nd February 2022
Signs of a ‘closer to normal’ market in 2022The kind of frenzied market that we’ve seen in the last 18 months happens only a few times in most home-owners’ buying and selling lifetimes, says Rightmove’s property expert Tim Bannister. This has been made even more intense alongside the even rarer event of a global pandemic, which has pushed homes higher up most people’s priorities.
2022 will remain a strong sellers’ market
If you do decide to sell your home in the coming months, your chances of a finding a buyer are very high, as we’re still seeing huge levels of buyer demand, and not enough homes available to buy. Asking prices are expected to rise by another 5% in 2022. However, it’s really important to set the right asking price. Despite high demand, buyers will have limits to what they can afford or are prepared to pay. Alongside your requirements for moving our experience and comparable sales data will ensure we set the right asking price.
More properties for buyers to choose from in 2022
We are already seeing an uplift in people requesting valuations and expect to see more properties coming to market over the coming months, which is a strong sign that previously hesitant sellers are now looking to make a move.
The continued importance of being a ‘power-buyer’
To be in pole-position in the race for the best property, you need to have greater buying power than the rest of the field. So if you’re a seller looking to buy again, the best way to get yourself into pole position to secure your next home is to secure a buyer for your property first. Proving your access to funds, including a mortgage agreement in principle, is also becoming a must-have, not only to get higher up the buyer pecking order, but also to speed up the process.
To kick-start your moving plans contact us for a market appraisal on 020 8882 7888, we can advise how much your property is worth and answer any questions you have to help you get on the move!
