Although most indicators have moderated from their elevated levels seen during much of last year, market activity remains strong with both house prices and average rents reaching multi-year highs.
However, there is little doubt that rising mortgage rates and falling real household incomes will limit activity and price growth somewhat in the short to medium-term. Despite these headwinds, the outlook for the residential sector remains positive.
Highlights of our Q1 2022 report include:
- Property transactions rose from 275k in Q4 2021 to 335k in Q1 2022
- BTR pipeline tops 150,000 for the first time on record
- House price growth reaches highest level since 2004