The property market in the United Kingdom is difficult to predict. Will prices rise or fall in 2022? Is it a good time to buy or sell a property? And has the pandemic changed anything? Here's my take on the property market in the UK as it stands right now.
What Is Expected to Happen to Property Prices in 2022?
Since May 2021, house prices have risen by 4.9%. Over the course of the entire year, we saw an average price increase of 13.3%, taking the average property value to £355,948 in the South East. In 2022, it’s likely that property prices will continue to rise – albeit a little more slowly – with the property website Rightmove predicting an annual rise of 5% in 2022 and the property firm Savills predicting a 3.2% increase in areas outside of London.
Is 2022 a Good Time to Sell Your Home?
Of course, you're expecting me to say "YES! Of course - right now is the perfect time to sell your home", but the reality is that the right time to sell a property depends on many different factors, including the variations in your local property market and your property type. As an estate agent who prides themselves on transparency, I will never tell you that now is the right time to sell your property if your local market says otherwise.
Has COVID-19 Changed the Property Market in the UK?
The property market in the UK has been affected by COVID-19 in a few different ways, but they aren't all negative. With the lockdown’s behind us, in-person viewings are available once more, and I, for one, am glad to be back in the office.
It appears as though we're through the worst of the pandemic, and with hope on the horizon, January of 2022 has been my busiest month to date, indicating that many potential buyers and sellers are thinking of making a move in 2022.
What to Do if You're Unsure if 2022 is the Year for You to Move House?
If you're unsure if now is the right time for you to move house, don't worry – there are lots of things you can do to help make your decision. For one, speak to a knowledgeable local property expert who will be able to advise you on the current property market in your area. If you live in Battle, Robertsbridge, Sedlescombe or the surrounding TN33 regions, then I'm your man.
Secondly, there's no harm in viewing properties even before your own home comes to market. Viewing properties in your chosen area is a great way to gauge what you can expect to get for your budget, and you never know; you may just stumble across your future house.
Drop Me a Message to Discuss Your Property Needs for 2022
If you want to find out more about the property market in your area, or if you have any specific questions, then please do not hesitate to contact me. I'll be happy to answer any of your questions and help guide you through what can be a daunting process.
Happy house hunting! :)