A look at house prices in 2022. How much could you sell for this year?

Despite projections that the property market was set to cool down in 2022, the new year’s market is shaping up to offer fantastic opportunities for sellers. 

According to Rightmove, average house prices have increased to £341,019 last month, taking annual growth to 7.6% since January 2021*. This is the highest yearly price rise since 2016. And, it's not just a substantial rise in prices that’s getting people excited - there are lots of positive indicators for those considering selling their home in 2022. Here’s how the new year property market is shaping up so far...

Demand is strong across the UK

According to Rightmove, UK house prices have increased to £341,019 this month, taking annual growth to 7.6% since January 2021. This is the highest yearly price rise since 2016. And, it's not just a substantial rise in prices that’s getting people excited - there are lots of positive indicators for those considering selling their home in 2022.*

The low number of sellers listing their homes means those that did list reaped the benefits as buyers made large offers and moved promptly in order to secure their purchase ahead of the competition. As well as a lack of sellers, there are a growing number of buyers looking to purchase property - in fact, the number of enquiries to agents is 15% higher than the same time last year.*

What’s happening in the lettings market?

There’s also positive indicators for landlords this month as Rightmove announced that rents across have increased at the fastest ever rate, and in some areas, tenant competition has doubled. For landlords, this offers a great window of opportunity to maximise on a rapidly expanding market. The latest data suggests rental yields are now at their highest point since 2016.

If I sell this year, will I struggle to buy a new home?

If you’re on the fence about selling because you have concerns about finding a new home, rest assured. There are early signs that more property choice is coming, with the first week of 2022 registering as the busiest start of the year ever for valuation requests which are 44% higher than the same period last year.

Many homeowners have experienced a lift in equity over recent years, which will likely encourage those who have been undecided about selling to take the leap. We expect to see many more homes come to market in the coming weeks and months so finding a property to buy should not be a problem If you have a property to sell, it’s always a good idea to start the sales process on your current house so that you’re in a good position to buy when the time comes.

Considering selling in 2022? It all starts with a valuation. Get yours for free, via our website today.

If I sell this year, will I struggle to buy a new home?

If you’re on the fence about selling because you have concerns about finding a new home, rest assured. There are early signs that more property choice is coming, with the first week of 2022 registering as the busiest start of the year ever for valuation requests, which is 44% higher than the same period last year.

Many homeowners have experienced a lift in equity over recent years, which will likely encourage those who have been undecided about selling to take the leap. We expect to see many more homes come to market in the coming weeks and months, so finding a property to buy should not be a problem. If you have a property to sell, it’s always a good idea to start the sales process on your current house so that you’re in a good position to buy when the time comes.