Property market sees buoyant start to 2022
Despite still living in somewhat peculiar times the housing market in the UK remains healthy, making its strongest start to a year since 2005.
Annual house price growth rose to 11.2%, according to the Nationwide, which is the biggest building society in the country.
The average price of a home rose to £255,556 in January with the annual growth rate accelerating 0.8 percentage points from 10.4% the previous month, reaching its highest level since last June.
According to the Nationwide, mortgage approvals for house purchases have been slightly above pre-pandemic levels, despite the surge in activity in 2021 due to the stamp duty holiday, which encouraged buyers to bring forward their transactions to avoid additional taxation.
The number of property transactions in 2021 was the highest since 2007 with the stock of homes remaining extremely low, which is thought to be contributing to the continued pace of growth.
With Spring not so far away many more people will be looking to find a new home we at Dale and Newbery have noted the strong market, with many new and existing clients contacting us for conveyancing help.
Of course, nothing is a given with property markets in the short term, and with many economic experts expecting inflation to have a squeeze on household finances it is hard to say what effect this will have on the housing market for the rest of the year ahead.
However, what is notable is that London estate agents are seeing a renewed invigoration of the property market as many return to the office after the worst of the pandemic being over, and further lockdowns currently seemingly unlikely.
We always say to those thinking about making a move that it is one of life’s biggest financial undertakings you will ever take, so do not do it lightly - ensure that you do your homework and, of course, you should appoint reputable solicitors to oversee the conveyancing work.
Our reputation carries much weight with people moving home in Staines and in the neighbouring locally.
On a local level, it seems very clear that there is no shortage of people still doing their utmost to make this area of the South East their home. With Staines being such a picturesque town and being so well located for probably the world’s most sought-after city, will always mean this part of the world is a safe investment.
We wish all those moving in 2022 the very best and remember if you need peace of mind and expert legal hands overseeing your property moves, with expert local knowledge, we at Dale & Newbery are here for you, contact us today.