What Will Happen to House Prices 2022, According to Rightmove
Rightmove have predict national house prices by 5% next year – which is currently £342,401 and will increase by £17,000 approximately.
According to Rightmove there is still a high number of home-hunters looking to move, and there are not enough homes available to buy, which is pushing prices up.
However, Rightmove had already seen a 19% jump this month in number of people requesting estate agents to value their homes compared to this time last year. This is set to bring fresh opportunities for new buyers as new homeowners get ready to move. Rightmove is expecting to see more properties for buyers to choose from in the new year, which is predicted to slow down the pace of growth.
Rightmove property expert Tim Bannister predicts:
“While the 2022 property market will continue to be busy we forecast it to be less frenzied than 2021, especially as more owners decide to come to market in the first half of the year.
Movers will benefit from good mortgage availability, as well as more choice of property, especially with the usual surge of sellers coming to market in the spring. Price rises will be slower this year Compared to 2021, which will encourage some homeowners who have held back on moving to take action.”
WHICH REGIONS ARE LIKELY TO SEE THE BIGGEST PRICE GROWTH?
Rightmove predicts the following areas are likely to see a higher rate of 7% price growth in 2022 – Scotland, West Midlands, South West and Humber.
WILL PRICES CONTINUE TO RISE IN LONDON?
Prices in London have not risen as much as the rest of the country and buyer demand is not as strong, so it is predicted a price growth of 3% in the capital.
“There will be hotspots and cooler spots across the capital, as there are so many different pockets Operating at different speeds. International buyers have been more on the scene, and buyers across all budgets are finding some attractively prices properties” says Rightmove’s expert – Tim.
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