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Midlands’ housing market 2022, what’s really going to happen?

As 2021 draws to a close, figures indicate how hyperactive the Midlands’ housing market has been this year. An incredible 7 out of 10 properties advertised on the John German website are currently marked as sold subject to contract. In addition, this year has seen the highest level of completed home sales for John German in over a decade. The figures indicate how unprecedented the period has been for house sales in the Midlands.

John German’s Associate Director and former President of Propertymark, Martyn Baum, comments, “2021 has been an exceptional year for the housing market throughout the Midlands. At John German, we have seen the highest volume of property transactions for over a decade alongside healthy house price growth. The pandemic has been a significant catalyst for such activity since many people now work from home. As a result, people are relocating to the more rural areas in the Midlands, taking advantage of excellent commuter links into bigger cities. In addition, mortgage deals have been plentiful and rates at an all-time low. Sprinkle it with a gift from the Government of a Stamp Duty Holiday, and we get the perfect cocktail for a thriving market.”

So, what next for 2022?

“Whilst nobody has a crystal ball, I believe demand for property in the Midlands will still thrive. As a result, buyers will have more choices, and prices will continue to grow, albeit at a slower rate. Additionally, interest rates will continue to edge up slightly, although I predict they will not be at a level detrimental to buyers’ affordability.

My advice to those looking to move in any fast-moving market is to be brave and put your house on the market before you find somewhere to buy. Whilst this may feel unnatural and uncomfortable, doors will open to a much greater selection of properties for you to purchase.” said Martyn.

For further advice on the property market, feel free to contact us.

You may also be interested in our blog, Want to sell your house but can’t find anything to buy?

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Date Posted

December 21, 2021

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Katy Storer

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