Even though the cost of living continues to rise, we are seeing no sign of decreasing with house prices. Zoopla has announced that in their August 2022 report they have seen an annual increase of 8.3%, while this was lower than March 2022, there still appears to be a shortage of stock compared to potential buyers. Originally it was thought that 1.2 million property purchases would take place this year however it is now forecasted to be 1.3 million; 100 thousand above the original number.
25% increase in demand compared to the five year average! While buyer interest has started to slow since spring levels of demand are matching the same time as last year currently, which is still higher than the five year average. Spring is always a busy time for the property market compared to the summer months as this is when people have things planned such as booked holidays and school holidays.
"A recent consumer survey by Zoopla found a strong link between increased expectations of working from home and the scale of the eagerness to move in the next 12 months. Those who expect to work at home more are 5x as likely to move than those that expect no changes in working patterns." Zoopla, 2022. Are you now working from home and would like to move as you need more space for an office? If so, call us today on 01233 501601 and we can help you look for your new home!