After the events of 2020, 2021 was a difficult year to predict in the housing market. Now more stability is returning to the country, I analyse the trends we have experienced and provide some predictions for the year ahead!
UK house prices have continued to rise strongly throughout this year, increasing by 5.6% in the first six months and driven by elevated levels of demand. As we approach the end of 2021, the UK will see prices rise by a total of 10.8% year on year.
With news breaking in 2021 that renting was officially cheaper than buying in terms of monthly payments, the rental market has continued to grow from strength to strength.
Savills foresees rental prices will grow by 19.9% by 2025, as the UK market continues to grow alongside increased demand.
While rates are expected to increase in the years to come, the consensus is that there’s enough demand in the market to sustain the current levels of activity.
If you would like to learn more about the UK Property Market or discuss the Outlook for 2022, please click on the ‘book now’ link below, and I look forward to talking to you all very soon!
Chris Hynes Calendly - Book Now
Wealthi UK - https://www.wealthi.com.au/uk