Rightmove has released predictions for house price movements in 2022. It makes for some interesting reading! When we look at specific regions we can really see the impact of home working and the way that lifestyle changes have subsequently changed the market.
We already know that London’s housing market has taken a covid related hit but Rightmove is projecting price increases of just 3% in London. Pre virus trend saw the south east inflate at a higher rate than the rest of the UK, this has now reversed. So, we’re looking at disinflation here rather than actual deflation but it’s still clear that the ‘big move’ away from the city is projected to continue.
The regions projected to increase the most are Scotland, the West Midlands, Yorkshire, the South-West and Humber. With increases of 7% potentially on the horizon it’s going to be even harder for first time buyers in these regions to get on the ladder.