Is the current property frenzy sustainable?

Feb 4, 2022 | Buying, House Prices, Selling

We are experiencing unprecedented buyer demand, and have seen some properties sell for up to 20% higher than they would have done 12 months ago. If you’re planning on selling your property in 2022 we STRONGLY URGE YOU TO GET ON THE MARKET ASAP!

Houses in the West Midlands are priced around £240k, which means you would need to be earning over 50K per year just for a 95% mortgage. That’s not counting other debts and expenses!*

So what does this all mean for property prices in the next few years? While no one can say for certain, it seems likely that prices will continue to rise in the short term, especially as interest rates start to creep up.

However, we could see a slowdown or even a correction in prices in 2022 if costs such as utilities and groceries keep increasing at the current rate. If you’re thinking of selling, now might be a good time; if you’re considering buying, be prepared to pay more than today’s prices. Contact us today for a valuation – we’ll help you stay ahead of the curve.

*Mortgage info source: Guest Independent Mortgage Advice Ltd.

Book a free valuation

[wpforms_selector form_id=”802″ _builder_version=”4.14.7″ _module_preset=”default” global_colors_info=”{}”][/wpforms_selector]

Pin It on Pinterest