In 2021 we saw the housing market spurge with more people selling, buying, and looking to rent. But how will the market look in 2021 and what should you expect to see?
The demand for properties is not expected to disappear in 2022, but it will be slightly less. Due to the demand for properties in 2021, a lot of homeowners have moved or are in the process of moving. The housing price has increased, and it is expected that it will continue to stay at this high price. However, it has been predicted that there will be an increase in interest prices which could create a curve in the demand for properties.
Like buying there has been a huge demand for rented properties, yet there is still a lack of landlords. With the loss of profit during covid a lot of landlords have sold properties to make up for the profit. In return, the lack of properties has seen an increase in rental prices, and these are predicted to go up even further.
Overall, while these predictions have been made by companies such as right move and property experts. They could all change depending on the covid status and the danger of the new variant, which would affect the housing market. The market could have an increase in people purchasing homes or an increase in people staying in their existing property.