Tomorrow (Thursday) morning at the crack of dawn the Nationwide is publishing its December HPI. We want your thoughts on where the property market was at in December and where you think it's going to go in 2022 (and why). With stupidly high inflation and interest rates set to edge up further, are the wheels going to come off the property market? You know what to do…. but don't write an essay - four to five sentences MAX.
3 responses from the Newspage community
The housing market still remains strong in the UK, especially outside of London. Although there has been a slow down in sales numbers, demand from both house buyers and investors is high. The relaxation of mortgage rules will likely stimulate demand in 2022 from first time buyers and people looking to up size.
Everything is on the rise, prices, interest rates, inflation and demand for property but the one area that is still insufficient is the number of houses for sale, which is keeping the market competitive. Whilst the above combination sounds like a recipe for trouble I actually think the property market is in a strong position and will remain resilient like it has done through the pandemic. The only way prices will fall is through a surplus of supply and with the demand levels at the moment it is unlikely that will happen anytime soon. An outside threat is changes to rules and regulations which could make owning a property less desirable but that would have to be a very significant change and I can't see that happening.
The property market remained strong in December with demand outstripping supply by quite a margin. I foresee it being more of the same as we head into 2022 with little sign of an uplift in new properties coming to market.