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It is perfectly normal to see price rises in the property market between January and February every year. However, 2022 has simply knocked them out of the park!
January to February saw the largest price rises in 20 years. The average property price rise is up by £7,785 across Britain, with even higher rises evident in local areas.
Over the last 2 years, house prices are up by £31,000 more, compared to pre-pandemic levels over the same period. It's clear that the pandemic is a key driver in this turn of events.
Motivation to move away from London and densely populated cities has been strong. What's more, lockdown restrictions have given people a real sense of appreciation for the great outdoors. The change for many people working from home means they need extra indoor space, too.
The resulting desire is to upsize your home and garden, re-locate somewhere handy for the countryside, and perhaps an easy commute to work. Many are still coming to the decision to take action and move. This makes demand in our local areas strong, and competition amongst buyers drives up prices.
We always see a busy housing market this time of year. Home valuations are on the rise and we expect exciting months ahead. This rise in activity should, at the least, settle the rate of price increases.
So if you are hesitating over selling your property, the time is right to make the most of the price rises. Sell now, and you are more likely to benefit from the increase before property values settle. What's more, if you are looking for your new home, you will be in a better buying position if your own property is sold already.
If you would like a valuation, advice about selling your home, or to register as a buyer, please contact your local branch below.
Ash Vale – 01252 353030 | email@example.com
Aldershot – 01252 983730 | firstname.lastname@example.org
Farnborough – 01252 375999 | email@example.com
Fleet – 01252 812121 | firstname.lastname@example.org
Hook – 01256 764666 | email@example.com
Hartley Wintney – 01252 844015 | firstname.lastname@example.org
Yateley – 01252 597900 | email@example.com
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