Price growth preditions

Property continues to rise in value. An average of independent forecasts predicts prices will end the year 5.8% higher than at the start.

Annual price growth has moderated since the double-digit figures evident in May and June, however the search for space continues to drive demand. Working from home, at least part-time, is a lasting legacy for many of COVID-19.

Properties are selling quickly and the majority of agents expect prices will continue to rise over the next 12 months, according to the latest survey by RICS.

An average of independent forecasts produced to date in 2021 suggests prices will rise by 3.9% over the course of 2022.

Hamptons has released its housing market forecast for next year and beyond, predicting; a second wave of lockdown-induced demand will keep price growth in positive territory at 3.5% in 2022, 3% in 2023 and 2.5% in 2024.

Source: Dataloft, HM Treasury, average of independent forecasts published in 2021 to date.