Will UK house price boom continue in 2022?

Last year witnessed surging prices and a buying frenzy. Will normalcy return to the United Kingdom’s housing market this year or will the house price boom end this year?

Residential property prices appear to have defied odds in 2021 as the UK housing market continued to boom throughout the year. Undoubtedly, it's been a gloom-defying 12 months, thanks to the stamp duty cuts across the UK.

Property prices across Great Britain surged, with the latest estimate from Halifax suggesting an 8 per cent increase over the year as a whole compared to 6 per cent in the previous year. However, there appear to be contradictory reports on the property values for the UK housing market.

A report from This is Money quoting the mortgage lender suggests that the typical home in the United Kingdom is now worth £272,992, signifying a rise of £20,757 in the past 12 months, and almost £34,000 higher than before the start of the pandemic.

Conversely, Zoopla’s latest House Price Index reflects that the average price of a UK home jumped by over £15,000 in 2021.

There are plenty of variables weighing on this of course, from pressure on household budgets to increasing mortgage rates and the incentive of the Government's stamp duty holiday being taken away.

2021 witnessed surging prices and a buying frenzy: Will normalcy return to the UK housing market this year?

This is Money looks at what could happen to the housing market in 2022 and addresses the impact Omicron may have on the property market, the housing supply shortage and whether the rising interest rates could dampen demand. Please click here for the full report.

Regardless of the circumstances that you may be in, we at Strategic Solutions (Int) can help you with all your property investments in the United Kingdom and Portugal.

Our experienced multilingual team can help you build a portfolio to suit your own criteria. We take care of it all, backed by our network partners and deep industry knowledge of course, across the two countries and most imperatively direct contact with small and medium-sized developers.

Contact us today and book a Consultation.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. SSIL does not guarantee the accuracy, legality, completeness, reliability of the information and or for that of subsequent links and shall not be held responsible for any action taken based on the published information.