Housing Market Update

August, 2022

While living costs continue to rise, house prices show no sign of decreasing.

Despite a lower growth rate than March 2022, Zoopla's August 2022 report shows a 8.3% rise, though stock appears to be scarce compared to potential buyers.

As opposed to the original prediction of 1.2 million property purchases this year, the forecast now calls for 1.3 million, an increase of 100 thousand over the original estimate. In comparison with the five-year average, there has been a 25% increase in demand!

While buyer interest has started to slow since spring, current levels of demand are still higher than the five-year average, which is still higher than the five-year average. In summer, people have more plans such as travel and school holidays than in the spring. Therefore, the property market is always less active, a trend that has been evident for many years. 

There is a strong correlation between increased expectations regarding working from home and the likelihood of moving in the next 12 months. This is according to a recent consumer survey by Zoopla.co.uk .
The likelihood of moving is 5x greater for those who anticipate working at home compared to those who do not anticipate any changes in their working patterns. 

Are you currently working from home and wish to move because you need more office space? Our team can assist you in finding the right home if you call 01603 577255 today!


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