Housing Market
Housing Market
2021 was buoyant for the housing market, as no one in this generation had seen before. Low-interest rates, stamp duty holidays, and changes in working habits encouraged many to relocate.
House prices increased rapidly but will these be maintained through 2022?
Many do not think so…. This would be good news for first-time buyers and homeowners wanting to move up the market.
With experts predicting a high degree of uncertainty throughout the year, with inflations and interest rates forecast to rise higher than in a decade and now with the threat of war in Europe is the boom over? 
There are many mixed predictions online – some feel any increases in property value will be at a low percent, many predicting a crash is 2022 the year to move?
There are still many low mortgage rates available for the savvy borrower. Larger companies are still in competition with each other to gain customers and capital is still available to them. The even better news is that 95% of mortgages are now again available to first-time buyers.
The biggest issue facing the market right now, not just for homeowners but renters too, is the house prices. The supply and demand of property in 2021 have pushed prices up through the roof – great if you are downsizing right? But even if you are on the property ladder and want to upsize will you be able to afford it?
In monetary terms, house prices rose by an average of £24,000, the largest year-on-year increase since 2004.
It seems impossible that this buoyancy can be maintained throughout 2022 but as a moving company, we hope for a steady through over the year rather than a crash.