The housing market in 2022

It’s a question everyone wants to know the answer to: what’s going to happen to the housing market in 2022?

While our crystal ball isn’t quite working at present, we can give you our educated guess, based on our vast property experience and knowledge of the local market.

Rightmove have predicted that house prices will increase by 5% on average during 2022. And the West Midlands might even see a rise of 7% as apparently it’s one of the four most sought after regions for buyers.

That means a house in the West Midlands worth £350,000 now could be worth another £24,500 in 2022. That’s great news for sellers, but not so great for those looking to upgrade to a larger property or for first time buyers. However the market is likely to be more settled in 2022 and not quite as hectic as it was last year, giving more people the opportunity to move home.

People often ask us why the market is so strong and prices keep on increasing. The simple reason is that demand has been incredibly high over the last two years, and still is. We have lots of customers who want to move home, but there’s not enough stock available in the housing market, which drives prices up.

That’s why now is a good time to put your property on the market – there are still some great mortgage deals around, and there’s lots of potential buyers who are really keen to move to a new home.

If you’d like to find out how much your home is worth, and why you should choose to sell your property through smarthomes, call us for a realistic valuation on 0121 744 4144.

Have a look at our property for sale in Solihull and the local area:
https://www.smart-homes.co.uk/search-properties/for-sale-solihull

Article source:
https://www.rightmove.co.uk/news/articles/property-news/house-price-forecast-2022/