It’s time for another property market update for the beginning of 2022. Firstly though, we must reflect on the what a remarkable year 2021 was for the local property market, I know from personal experience that the Fine & Country Rugby office has now had two of the busiest years since we opened in 2001 and last year’s market saw some remarkable growth in the region of 13.8% in the upper quartile of the market place in the Midlands.

The incredible pace was directly attributed to the huge demand and relatively low supply of stock, plus of course the remarkable change in lifestyle requirements caused by the outbreak of COVID 19. The need for extra space for the home office and the need for larger gardens has simply been immense in the last 18 months and the strain on supply has created a frenzy of activity with many homes selling way above their asking prices.

Interestingly enough, Rightmove have reported a 19% increase in valuation requests in the last two months of 2021 and maybe this might be a sign that more stock is likely to be available as we enter 2022.

So what does 2022 hold for the local market? As you well know for the first time in three years, the Bank of England raised interest rates by 0.25% in December, which is unlikely to deter sellers and buyers from moving this year, but the rising costs associated with inflation could dampen buyers ability to borrow in the coming months. That said new buyer enquiries are already up by 21% compared to this time last year and with the new round of boosters predicted to end the pandemic, then we are in far more positive environment than this time last year.

I predict that 2022 will see modest growth compared to last year’s double digit figures, and a lot of that reasoning will be down to the attractions of living in this region. Rugby in particular has seen a huge surge in buyer activity, largely down to its fantastic range of state and private schooling and of course its geographical location is almost perfect, for those that need to travel regularly.

I know that there a lot of buyers who are cautious about selling when they have nothing to look at, but let me say this, if the house you want is not on the market, then the chances are we have probably carried out a market appraisal on it, so let us help you find a house, when we have a sale agreed on yours! 

I would also recommend that all potential buyers take a look at my social media channels on Facebook, LinkedIn and Instagram to get constant updates on new listings before they are seen on the normal websites.

If, of course you would like an up to date appraisal of your home or if you would like any property related advice, please contact me on 07894 561313 for an informal chat .