In a recent UK housing market forecast, Rightmove reveals what changes the property market can expect throughout 2022. 

The UK's foremost online real estate portal and property website predict that by next year the UK average property price will increase by at least 5%.

The research was conducted by using a house price predictive model that analyses data surrounding supply, demand, and house prices.

House price surge across the UK

The findings show that buyer demand has gone up by 2% compared to 2020 and is up by an astounding 40% in comparison to November 2019.

When interested in listing a property for sale one of the first steps homeowners take is a home valuation. Rightmove reports that in November this year the number of agent valuation requests increased by 19% compared to November 2020.

Scotland, the West Midlands, Yorkshire, and the Humber, and the South West are the most competitive markets in the UK. As a result, these locations are expected to rise to 7% in 2022. 

The buyer demand for properties available for sale is a lot lower in London compared to different parts of the country as the capital is set to rise at a lower rate of 3%. The cause of a lower rate in London could be a combination of Brexit changes, additional taxes for overseas buyers, and changes to migration for domestic and international movers.

Rightmove’s director of property data Tim Bannister further explains: “While London overall will continue to be a price drag on the national average, there will be hotspots and cooler spots as its own unique and diverse markets continue to operate at different speeds. International buyers have been more on the scene, and both at this top end and lower down the price brackets, buyers are finding some attractively priced properties as the combination of London’s post-boom rebalancing and Covid effect changes on supply and demand in its many sub-markets plays out.”