There are two issues that might well have a very big impact on prices as we move forward into 2022. Prices at the end of ’21 continued to climb, a little slower perhaps but this is easily explained by the end of the stamp duty holiday, the winter season and the fact that there had been so much inflation prior, many just couldn’t afford to move. This year could look quite similar – the ingredients are all in place for another round of price hikes, due mainly to quite constant demand and a massive shortage of homes coming up for sale. This could lead to price rises. But there is something new in the recipe that wasn’t there last year – the cost of living crisis. With taxes, mortgages, rents, petrol, gas and electricity all up, might buyers decide to hold fire? That would reduce demand and prices could slip. That said, over the last 12 months HouseBuyFast has purchased more property than ever before and we’re geared up to do even more this year so don’t worry – if you struggle to sell, we’ll always be here!
Regardless of the statistical price of the property, we will always buy any house anywhere in England or Wales.
Let us know what you think the future holds for the property market in the comments and stay tuned for another post next month.