Property Still in High Demand
The demand for property jumped a massive 49% in January – the biggest New Year uplift for 5 years.
It’s been a frustrating time for buyers – high demand has stripped the market, new stock has been incredibly sought after, and house prices increased 7.4% over the last year.
But 2022 should start to change the market for buyers – more homes are coming onto the market and should continue to do so regularly. This is great news for first time buyers as it gives them more choice and if first time buyers can get onto the market, it allows other people to move up the property ladder.
First time buyers may be better off with flats instead of houses as they have seen more modest price increases over the last 12 months and so offer a more affordable option.
Those looking to move house need to be in a strong position in order to compete with other potential purchasers as demand continues to outstrip supply. Those without their own homes on the market won’t be able to move as quickly as others who are or who have sold, and so may miss out on the property they really want.
Getting advice from a local estate agent who knows the market is invaluable in deciding when to list your home, for what price, and what you can afford.
If you’d like to find out how much your home is worth call smarthomes for a realistic valuation on 0121 744 4144 (option 2).
If you’re planning on moving in 2022 then click here to see why you should choose to work with smarthomes:
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