1 in 16 Properties in the UK Sold in 2021
2021 was one of the busiest years for the UK property market with one in sixteen properties changing hands, the highest level recorded since 2017.
Average Property Price Increased by up to 10.8%
The average UK property price increased by 6.9% according to Zoopla’s house price index, an increase of £15,500 and some regions experiencing price growth of up to 10.8%.
The North West of England was one of the best performing markets with 9% price growth in direct contrast to London with 2.3% growth over the same period.
28% Increased Demand from Property Buyers
The increased demand from property buyers was 28% above the 5-year average, whilst the supply of property to the market was 40% below the 5-year average, leading to sharp price increases.
It is anticipated that buyer demand will remain high in 2022 as buyers look to invest in buy-to-let property, or, purchase a home. Mortgage interest rates have been at an all time low; therefore, even with modest increases to mortgage rates, they will remain relatively low in comparison to historical rates.
Buy-to-Let Property Investment in 2022
Investing in a buy-to-let property in the current market can be challenging as property investors compete with home buyers, however, buying off-plan / property under construction is an excellent way to secure below market value property and often with buyer incentives to reduce the cost of purchasing your investment property.
Explore our range of properties in the high performing North West property market:
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