A year of records in Residential.
Our quarterly report examines supply, demand and household indicators affecting the UK housing market.
Last year was a year of records for the residential sector:
- In June, a record high amount of property transactions of almost 200,000 took place
- Average house prices reached record-highs climbing almost 9 per cent across the UK last year, whereas
- Mortgage rates dropped to record lows only a few months ago.
Without a doubt the stamp duty holiday had a significant impact on market activity last year, which will leave a hangover into activity this year. Meanwhile rising interest rates, affordability and 95 per cent LTV mortgage options are also going to have an effect on the market in 2022.
Considering all the evidence from various indicators, including those featured in this latest report, Colliers suggests that during 2022 house prices are likely to grow 4.2 per cent.
Find out more by downloading the full report.