Leading UK property portal, Rightmove, recorded 2021 as the property markets’ busiest year in over twenty years.
Even with the uncertainty of Covid-19 variants and pressures of the pandemic, the market remained robust, and house prices exceeded expectations throughout last year.
Looking at the previous 12 months, UK house prices increased by 10% on average, the highest growth in 15 years.
As pandemic restrictions come to an end, we can only assume that prices will continue to soar into the first half of 2022.
Rightmove forecast strong demand and predict that the UK property market will boom after the busiest year in the site’s 21-year history, despite high inflation rates.
The property site stated, ‘this will be helped by firm house prices in an undersupplied market and the UK removing all pandemic restrictions.’
As the market normalises, Rightmove expects the number of transactions to return to pre-pandemic levels, and house prices will stabilise towards the end of the year before even further growth is expected by 2026 according to Savills predictions.
