House Prices Fall

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Sell My House Quickly found another interesting article about properties in Birmingham. Will house prices fall in 2022 – and will interest rates rise? House prices have grown at a strong rate in recent months – but the prospect of higher interest rates in 2022 is giving some people cause for concern.

New figures suggest that UK house prices grew at a double-digit rate in November, causing more frustration for would-be first-time buyers looking to buy a place of their own.

According to the latest house price index from building society Nationwide, the average UK house price rose by 0.9% to £252,687 in November 2021.

House prices were 10% higher than the same month in 2020. But many people are now asking themselves – will UK house prices fall in 2022?

Will house prices fall in 2022?
House Prices Fall

Rightmove has forecast that UK house prices will continue to rise in 2022. It predicts average asking prices will grow by 5% next year.

House prices continued to rocket in spite of the pandemic, partly because of the government’s stamp duty holiday – intended to keep the housing market buoyant in spite of lockdown.

Even though the stamp duty holiday ended in September 2021 – having previously been extended – house prices in the UK have continued to rise.

The shift towards working from home has led some people to seek more space at home, while the reopening of offices has also put renewed upward pressure on urban house prices and rents.

We found this article about Will house prices fall in 2022 – and will interest rates rise on Birmingham Live. Kindly click the link to read the full story.

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