Will 2022 be your year to move?

We're just a week in to 2022 and it's already looking very promising! We're already listing new properties and our valuations are very busy, and after a scan through Rightmove I can see this seems to be the case across the country. If 2021 was a struggle for your property search, this steady start to the year makes me think 2022 could be less stressful for you, and hopefully a lot more successful!

Following my last blog before Christmas, it turns out Rightmove did in fact have it's highest amount of new sellers Boxing Day, and certainly a huge number of prospective buyers looking for their next home. So, what are we in store for in 2022?

Possibly more homes available than last year!

Music to our ears! After a huge unbalancing of people buying vs. people selling, hopefully the scales will straighten out a bit. Rightmove reports that seller numbers were up by 21% compared to Boxing Day the year before.

The market was a little turbulent last year so it seems that some sellers were put off by this market, they are now looking to the new year to be a little more under control and hopefully take advantage of the high number of buyers looking for their next home.

We certainly saw this within our own office, with people getting in contact throughout the entire Christmas period (even including Christmas Day and New Years Day!) Usually this period can be quite quiet and usually lasts up to the end of January, whereas this time round there's been no signs of slowing in the market. If anything, December was busier than November! January is definitely following suit.

Although we're expecting more available properties this year, its safe to say it will still be a competitive market. So our advice is not to rely on Rightmove and speak to agents directly. This way you're more likely to get an insight into upcoming property and in some cases beat the queues and secure an early viewing.

A Steady Rise in Prices

A lot of reports towards the end of 2021 spoke of an average of about 10% rise in house prices compared to 2020. This year the prediction seems to be about 5% average which is due to the continued imbalance of properties for sale to home buyers, however a bit more balanced that last year.

Expanded Search Areas

Rightmove reports that buyers have increased their search area by about 50km2 (19.3 square miles) on average. It seems that people are less worried about commuting and more interested in securing the right property. Maybe some of this appertains to the increase in people working from home, but also the increase in prices may have led to people choosing more budget friendly areas outside of the more central high priced locations, or simply just feel they are getting more value for money outside these areas.

We have seen this a lot with quite a large difference in price between Weston-super-Mare and Bristol - this past year we've had a lot of people moving from Bristol to Weston enabling them to upsize for similar money.

Return of Demand for Flats!

We found that people were really pushing for houses last year, mostly for benefits like a private or bigger garden. With the slow of the pandemic and potentially a light at the end of the tunnel, the demand for flats is on the rise for buyers to live in more central locations.

Respectively, flats have had a slightly steadier growth in asking price so will likely be more appealing to prospective buyers, and the slightly lower price point will certainly be appealing to first time buyers looking to get on the market in the more hopeful 2022.

Less Shortage of Rental Homes

It's safe to say that the rental market was the busiest we've seen to date this past year. We had a lot of landlords selling up to catch the peak of the market, but with things evening out and active lenders we could see more landlords purchasing and more properties available to rent.

So what's next for you?

In my Pre-Christmas blog, I mentioned how to become a 'Power Buyer'. This part still rings true:

"If we can crack on, get your property ready for marketing and launch nice and early, you will be the most likely to secure a buyer earlier. This means that when you're looking for your onward purchase, you'll be proceedable and agents will consider you to be a 'hot' or 'power' buyer and put you at the forefront of your mind, creating plenty of opportunity for you to find. You may even get first sight on new listings. Certainly a position you should want to be in. It's so unfortunate to see the perfect property sell to someone else because you're not in a proceedable position."

So, get in contact with us a soon as possible, get your home ready to bring to the market and lets get you sold nice and quick so that you're in the best position to secure your next home!

Happy New Year! Let's look forward to a successful 2022 for everyone!

- George Tyson, Sales & Marketing Consultant