Dec
8

Rightmove: Predictions for house prices in 2022

It is no secret to those in the property industry that 2021 was a very busy year for the housing market. But, are things set to continue in 2022? Rightmove have predicted that house prices will rise by another 5% in 2022; that will be a £17,000 increase on top of the current average national asking price of £342,401. The price increase is expected as there are still a huge number of house-hunters, but not enough housing supply. However, there has been a 19% jump in the number of people requesting a valuation via Rightmove in November compared with the same period last year.

Rightmove's Tim Bannister says:
“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.”

Read here.