Market Reports

From ‘boil to simmer’ is how house price growth has been described by one property portal, who published its latest House Price Index in July. Rightmove’s newest report chose to focus on the rate at which house prices are now rising, rather than by how much.

Here we discuss house prices, rental values and major changes to lettings. There’s also a new UK average house price and a new Bank of England base rate. If you want to know how any of the points affect your property plans, please get in touch.

We’re almost halfway through 2022 and there is time to reflect on the current property market. Although the interest rate has risen, the impact has yet to hit buyer demand, with buyer numbers still high. Estate agents participating in Propertymark’s latest study reported an average of 100 purchasers registered per branch.

Figures from April give an early indication of what lies ahead for home movers. Last month appears to mark a turning point in a market that has, up until now, defied the wider economic backdrop. While a bust isn’t forecast after such a big boom, the first signal of moderation has been identified by Nationwide.

We’re far enough into the year to look back at the property predictions for 2022 to see if the forecasts were right. The majority of the experts assumed the market would revert to its familiar, seasonally-driven pattern – but statistics from the first quarter of this year paint a very different picture.