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Positive property market predictions for 2022

The 2021 property sector has been record-breaking and 2022 is predicted to be no different.

As we head into the new year, what is in store for the housing market?

House price increases

As we head into 2022, the average UK house price has hit a record-high of £254,822, which is £23,902 more than the average in January 2021. *

With property priorities changing to favour gardens, large living spaces, rural locations, home offices and dining rooms, prices for properties with these features are set to increase further.

Demand stability

Over one-third of properties sold towards the end of 2021 achieved above their asking price, due to the spike in buyer demand. *

2022 is predicted to be just as lucrative for sellers, however, experts have stated that buyer demand will be more stable. This will allow for more property choice if you’re considering a move.

Remortgaging activity

£316 billion worth of home loans were granted during 2021, thanks to a strong level of buyer activity.**

2022 is set to remain just as strong for mortgage lending, with more remortgaging activity expected to take place.

With so many positive elements to take away from 2021, and a bright future for the property market ahead, now is a great time to evaluate your options.

If you’re thinking of buying or selling this year, contact us.

*BBC.co.uk

 **Independent

Tips to speed up your home move

There are some elements of a home move that may be out of your hands. That said, if you're prepared and communicative, you can certainly have an influence on the overall process and reduce any additional delays.

Respond in a timely manner

This might be an obvious tip, but it’s not uncommon for buyers or sellers to take their time when responding to something simple.

When you receive documents to fill out, it’s important that you don’t dwell on the task for too long.

It can be tempting to leave paperwork to the last possible minute, but if possible, you should set aside time within a couple of days of receiving them.

Be flexible

Right now, there are many things that could force you to compromise and deviate from the initial plan.

For example, if you’re scheduled to move in the next two weeks, but the buyer would like this to be earlier, are you able to compromise?

It might be worth considering outlining your limitations from the beginning so everyone can plan accordingly. This will avoid any surprises later on.

 
Organise your questions beforehand

If you need to make an urgent call regarding your home move, write down all the questions you might need to ask before you pick up the phone.

This will allow you to get the answers you need in just one call, instead of having to go back multiple times as and when you think of new queries or concerns.

Ask away when choosing your solicitor

Whether you've been recommended a solicitor or you've found one for yourself, it's always a good idea to call them before making your choice, as you need to determine if they're the right fit for you and your property.

If you’re unsure about what you could ask, use some of the following questions:

- What should I expect from the process?

- How will I know when tasks are completed?

- How will you communicate with me?

- Are you aware of any delays which might occur?

If you’re looking to move home, browse our latest properties or speak to us today. 

Property searches often spike in January

Christmas is the time for indulging, spending time with family and watching all the classics.

As we head into the New Year, we've always found a renewed interest from homeowners and tenants, with enquiries and property searches at an all-time high.

We've all spent more time than ever at home in 2021, so you might find yourself planning what your 2022 Christmas could look like and whether you'd like to spend it living elsewhere.

Whilst it's commonly believed that spring and summer see the strongest market activity, year-after-year January has stood out as a time when online searches peak and more people are ready to make and accept offers in a fast timeframe.

Who chooses to move at this time of the year?

The new year property market usually consists of two types of people: first-time buyers and those re-entering the market after trying in the previous year.

In the spring and summer, the market typically becomes much more competitive, with higher supply levels.

If you want a fresh start in 2022, start the process now by instructing your agent, planning your property marketing strategy and taking advantage of the surge in buyer interest.

Whilst we all hoped the pandemic would be contained within 2021, it's now a confirmed reality that it will continue into 2022.

For that reason, we're committed to continuing all of the safety measures and social distancing practices we've implemented this year.

To make your home extremely visible on the property market over the New Year period, contact our agency today – visit our website for more information.

Which room in your home is the best value for money?

Whilst it might be the furthest thing from your mind right now, making home improvements is the perfect way to spend all that extra time indoors.

In order for you to know where to concentrate your energy, we've outlined the rooms considered 'best value'.

Perhaps unsurprisingly, the best-valued room has been revealed as the master bedroom, where we spend an average of 2,482 hours a year.

A recent study from comparethemarket.com has shown that Brits spend £308.51 each year on renovating the main bedroom, which makes sense when we consider just how much the room is used.

The average person spends about 26 years sleeping in their life, which equates to 9,490 days. We also spend seven years trying to get to sleep, totalling 33 years or 12,045 days spent in bed!

With the pandemic forcing more of us than ever to work from home, it is no surprise that the home office follows the bedroom for the room most used within our households.

It seems we enjoy improving our culinary skills as well as our homes, with Brits spending just under 800 hours a year in the kitchen. With many people adding renovations to their New Year’s resolutions list, it is important to know which room to do first.

If you are thinking of making changes to improve the value of your property, it is best to start with the kitchen or bathroom.

When buyers view a property, nothing grabs their attention more than a stunning kitchen or a modern bathroom. These improvements don’t have to break the bank to go a long way in impressing prospective owners.

If you’re improving your house for your own purposes only, it’s best to start with the room you would notice changes in the most.

To get your home valued or browse our latest properties, visit our website.