Are you one of the many home hunters looking to move next year? The property market has been hectic and highly competitive in the last 18 months.
The good news is there are signs of more properties coming to the market, so it looks like 2022 might just be the year you find the perfect home.
Take a look at the forecast for 2022 according to Right Move:
Will asking prices continue to rise in 2022?
The prediction is that the national asking price of a home, currently £342,401 - will rise by 5% next year , which means an increase of about £17,000.
This is because of a huge number of home hunters looking to move, and not enough homes available to buy, so the imbalance continues to push prices up.
However, 2022 is set to bring fresh opportunities for new year buyers, and there has already been a 19% jump this month in the number of people requesting for estate agents to value their homes, compared with the same period last year.
With even more homeowners gearing up to move in the new year, we can expect to see more properties for buyers to choose from in 2022, which will also slow down the pace of price growth.
Right Moves property expert Tim Bannister predicts
"Movers will benefit from good mortgage availability, as well as more choice of property - especially with the usual surge of sellers coming to the market in spring. Prices will be slower this year, compared with 2021, which will encourage homeowners who have held back on moving to take action"
Which regions are likely to see the biggest price growth?
The four most sought-after regions for buyers are Scotland, the West Midlands, the South West and Yorkshire and the Humber. The prediction is that these areas are likely to see a higher rate of 7% price growth next year.
Will prices continue to rise in London?
Prices haven't risen as much as they have in the rest of the country, and buyer demand is not as strong, so a slightly lower price growth of 3% is forecasted for the capital.
Property expert Tim says
"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 priced properties"
