2022: Property Predictions for the Future
UK property prices started strong in 2022, as the Nationwide house price index revealed that annual growth had risen to 11.2%, the strongest start to the year for 17 years.
According to Nationwide building society, the average price of a home hit £255,556 in January, proving that housing demand remained strong as we entered the new year.
Rightmove backs the positive outlook on the UK’s property market as their data displayed that asking prices rose by 9.5% in February when compared year on year.
This is the highest annual rate of growth since September 2014.
Stats showed the average asking prices increased by £7,785 last month, reaching a record of £348,804, the largest monthly increase recorded by Rightmove in over twenty years.
As it stands, with house prices continuing to rise, rent is also increasing. This is excellent news for landlords with rental properties or for those looking to invest in buy to let property.
All UK regions saw an increase in rental value at the start of 2022, with the North West offering returns of over 7% on average.
Liverpool and Manchester, in particular, are the current hotspots to invest in, not just for their competitive house prices, but they’re one of the more affordable and desirable places for people to live and rent which boosts rental demand in the areas.
Considering Investing in Property in the UK?
RWinvest has some attractive investment opportunities in 2022, with brand-new Manchester skyscrapers and Liverpool properties on offer and only as little as £38,950 needed to start your investment journey.
If you want to maximise your investment potential, the North West is forecast to see some of the highest price rises across the UK, with assured returns up to 8% NET.
Chat with an agent today to explore the latest properties and receive some of the highest returns on offer.
Read our other recent property news blogs to stay updated on topics such as the rising demand for new build properties and what this means for investors, and how the North West boasts the best value rental costs.
Disclaimer: This content was originally written in March 2022. By the time you read it, some of the statistics used may have changed.
For the latest on the UK property market in 2023, take a look at our updated investment guides.