terry jones
Shrewsbury, Abbey House 01743 285 888
Shrewsbury, Talbot House 01743 218 450
Syer House, Telford 01952 297 979
  • Home
  • About Us
    • Our People
    • Careers
    • Part of Metamorph Group
  • Personal Advice
    • Children and Child Care
    • Crime
    • Disputed wills and probate
    • Divorce and Family Matters
    • Prenuptial agreements
    • Domestic Violence
    • Elderly Client including Funding Care
    • Employment
    • Landlord and Tenant
    • Medical Negligence
    • Motoring
    • Occupational Disease
    • Personal Injury
    • Private Litigation
    • Residential Property
    • Wills, Trusts and Estates
    • Lasting Powers of Attorney (LPAs)
  • Business Advice
    • Agriculture
    • Commercial Litigation
    • Commercial Property
    • Corporate and Commercial
    • Employment
    • Landlord Property Litigation
  • Our Costs
    • Residential Property
    • Employment Tribunals (Employees)
    • Employment Tribunals (Employers)
    • Motoring
    • Probate (Uncontested with all assets in the UK)
  • News
  • Contact Us

We have adopted the Metamorph Group’s Legal Terms and Conditions. Please click below to view.

Read Terms

We have adopted the Metamorph Group’s feedback process. Please click below to view

Feedback

We have adopted the Metamorph Group’s complaint process. Please click below to view

Complaints

We are part of the Metamorph Group. Please view our group Equality, Diversity and Inclusion Statement on their website by clicking below

View Statement

We have adopted the Metamorph Group’s Data Management policy. Please click below to view

Data Managment

What will the property market look like in 2022?

November 15, 2021

To say that 2020/21 has been a ‘volatile’ year for the housing industry is perhaps understating it a bit. One of the most tumultuous years in living memory has touched every part of our society, including the housing market and the construction industries.

One of the biggest factors in the unprecedented demand on the UK’s housing stock through the Pandemic has been the relaxation of stamp duty. It meant potential savings of up to £15,000 on a £500,000 property, encouraging more people to make the most of this ‘stamp duty holiday’ and rush to buy before the deadline brought things back to normal in October 2021.

Higher demand led to higher prices, and as property values rarely goes down once they’ve gone up, that means 2022 could be a much more expensive year for potential buyers. The trouble is that now, the benefits of the stamp duty holiday are no longer in place. That financial cushion has been removed, meaning that buyers in 2022 are going to have to have deeper pockets than last year. With the average house price at an all-time high of £262,954 (according to the Halifax Building Society), and a 0.7% increase in July/August 2021, buying your first (or indeed your next) home just got more expensive.

2022 – a slower year? Probably not…

Predictions are notoriously difficult to get right, but the property sector is perhaps a little easier to second-guess, even in such uncertain times. The consensus is that house price inflation will slow next year, so while those averages are still set to climb, the ascent won’t be as rapid as it has been over the past 18 months. Demand is still outstripping supply, though, and even the relaxation of the planning regulations hasn’t yet filtered through to the building industry. There are still more buyers than there are sellers.

What market analysts are predicting, however, is that even though the stamp duty holiday has come to an end, there will still be plenty of potential buyers with money in their pockets. Much of that is money that would’ve been spent on commuter costs and is now sitting in savings accounts as a result of the working-from-home revolution. The amount of disposable income within society (and particularly among the more affluent middle classes) is surprisingly high.

Another driving factor is the demand for outdoor spaces. With more people finding city life both restrictive and, in an age of remote working and faster broadband, increasingly unnecessary, the demand for rural properties has also hit an all-time high. The exodus from the cities and in particular London has caused a surge in property prices in rural locations, especially the south, north-west, south-west, and Wales.

The Buy-to-let revival

Another big trend for the coming year will be buy-to-let. The private rental market has never been in such high demand. Young professionals who want to move out of the family home but cannot yet afford even a 5% deposit on a place of their own are desperate for affordable rentals, as are key workers and locals in more rural areas. Competition is fierce and is being fuelled by a shift in the population. For property investors, buy-to-let represents a viable option and provides stable, long-term income.

So there are some reasonably easy guestimates to be made when it comes to the property market, but if Covid-19 has taught us anything, it’s that life is far from predictable. The introduction of the Mortgage Guarantee system to help make it easier for people to get a mortgage with just a 5% deposit may cushion some of the fallout from the end of the stamp duty holiday. The same holds for the Help To Buy: Equity Loan scheme – part of the government’s plan to keep the housing market momentum moving. But will it work? Is 2022 set to be a record year for the property industry?

A boom year ahead?

Industry experts such as Hamptons predict a buoyant year with price growth in the housing sector of 3.5% in 2022, with similar increases year on year through to 2024, delivering a rise in prices of 13.5% between the start of 2021 and the end of 2024. For a country only just coming out of the worst economic crisis in living memory, that’s quite an achievement.

If you’re planning to take advantage of that 5% deposit scheme to secure a mortgage, it’s best to talk to a property expert first before you commit. Contact us today and talk to one of our property conveyancing professionals for impartial, no-nonsense advice.

< < back to latest news

Archive

  • AN INCREASE IN THE AGE TO MARRY
  • Cohabiting couples and wills
  • What happens to digital assets when someone dies?
  • Prenuptial agreements – are these legally binding?
  • A parental guide to PLO/pre-proceedings
  • 5 reasons to review your Will
  • Getting divorced – the 2022 way
  • Maternity scandal in Shrewsbury
  • Key details your divorce lawyer should know at your first meeting
  • Mental health in the workplace – What can employers do?
  • Court of Protection FAQs, Part 2
  • Court of Protection FAQs, Part 1
  • How can a family lawyer help with domestic abuse?
  • Why all parents should have a will in place
  • Coping with redundancy – what to do when faced with the unexpected
  • Do I need to wait to start my divorce until the new divorce rules come in?
  • Everything you need to know about cohabitation agreements
  • Judicial/Legal Separation – What is it?
  • Debt after death
  • Considerations to make before preparing your Will
  • Top 5 tips for moving house with young children
  • 5 tips for a Happy New Year after a divorce
  • Talking to your teenager about divorce
  • Good Divorce Week 2021
  • White Ribbon Day
  • The benefits of an unregistered LPA
  • Life after the stamp duty holiday
  • What will the property market look like in 2022?
  • Why you need an LPA in your 20s
  • Christmas contact arrangements for the children, how to resolve this early.
  • Why planning for the future is essential
  • Are DIY divorces on the rise?
  • Employline – Your online HR department
  • Settlement agreements – what to do when you receive one
  • Can I challenge a will?
  • Divorce in the forces
  • ABI – When to claim
  • Domestic violence awareness month
  • Land and professional deputies – how to make life a bit easier
  • Terry Jones Solicitors has a new home in Telford
  • Walk, run or swim 5.5km for 50 days – Charity event
  • Are the Government’s care home fee proposals too good to be true?
  • Divorcing after the summer holidays
  • Home insurance legal protection – what is it, and do you really need it?
  • Contentious probate – what are the rules?
  • NO FAULT DIVORCE – A BREAKTHROUGH IN FAMILY LAW
  • Will your Family Trust do what you expect it to do?
  • Do parents have different rights in the workplace?
  • Managing long covid in the workplace
  • What is a clean break order?
  • Can future employers look at your social media profiles?
  • Cohabitation agreements: the common law marriage myth
  • Domestic violence – what is coercive control and how can we help?
  • The stay on possession proceedings has been extended with an important change
  • Telling children about separation and divorce
  • Making decisions about divorce when children are involved
  • I want a divorce – what do I need to do?
  • When do you need a solicitor for divorce?
  • Good Divorce Week 2020
  • Premarital agreements: what’s changed in the last decade?
  • Covid-19 and the value of the family home upon divorce
  • Coronavirus and childcare: facilitating contact in the ‘rule of six’ era
  • Jackie Finds New Family at Terry Jones Solicitors
  • Significant surge in divorces
  • Understanding restrictive covenants and furlough leave
  • Redundancy rockets in the UK
  • Furlough scheme enters its next phase in September 2020
  • Coronavirus eviction ban to be extended by four weeks
  • How do self-isolation rules affect Statutory Sick Pay?
  • Potential criminal charges for Shrewsbury and Telford Hospital Trust
  • Gas Safety Certificates and Section 21 notices – a new ruling
  • Action Mesothelioma Day 2020: the dangers of asbestos in the workplace
  • Flexible furlough: how does it work?
  • No-fault divorces: ending the ‘blame game’
  • Ban on tenant evictions extended to August 2020
  • Redundancy and furlough leave
  • Collaborative Law and Covid-19
  • Can you recoup ‘no win, no fee’ legal costs in Inheritance Act Claims?
  • Changes in Employment – what are your rights?
  • What is a protective award claim?
  • Your family law lockdown questions answered
  • Continuing to help make Wills
  • Companies House strike off policy and late filing penalties (Covid-19 changes)
  • Domestic Violence during the Covid-19 Pandemic
  • Employment law support for your dental practice
  • What is a Settlement Agreement?
  • Be wary of ‘DIY’ probate
  • Closing the gap on forgotten employees
  • How effective is your Force Majeure clause?
  • “I don’t need a Lasting Power of Attorney as my family will look after me”
  • Landlord and Tenant court hearings
  • Companies House extension for filing annual accounts
  • Updates for landlords, April 2020 – COVID-19
  • Employment law pitfalls in a pandemic
  • COVID-19 Your holiday entitlement
  • Making redundancies due to coronavirus
  • Family Court Guidance during COVID-19
  • Coronavirus Job Retention Scheme: What is furlough leave
  • Still here for you
  • Property & Finance Attorney under Lasting Power of Attorney
  • CORONAVIRUS (COVID-19) UPDATE
  • 2020 has brought about exciting changes for our residential team
  • Freedom for All – Domestic Violence, Divorce and Pets
  • Season’s Greetings
  • It’s nearly that time of year again, Christmas is getting closer
  • Elf Day for the Alzheimer’s Society Charity
  • Who gets custody of the pet?
  • Are you concerned about your relationship?
  • An Ageing Population
  • Divorce is just as much an emotional process as a legal one
  • Braving the Zip Line for Charity
  • First Class Law Graduates
  • Shrewsbury Flower Show – A resounding success
  • To Pre-Nup or not to Pre-Nup?
  • Another successful show at Newport
  • PPI Claim Deadline is 29th August 2019
  • Ellen addresses audience at Ludlow Property Conference
  • New Trainee Solicitors
  • Need advice? Email us enquiries@terry-jones.co.uk

    Terry Jones Solicitors is a trading style of MLL Ltd. Registered as a limited company in England and Wales, registration number 05907992. Company registered address is at Sale Point, 126-150 Washway Road, Sale, Manchester, M33 6AG. Authorised and regulated by the Solicitors Regulation Authority (SRA ID 446632). VAT registration number 742326449.

    Names of Directors are available upon request.
    MLL Ltd is part of the Metamorph Group. See here for the Groups full legal and regulatory information.

    Cookies | Privacy Notice | Terms and Conditions | Feedback | Complaints | Equality & Diversity

    © 2022 Copyright Terry Jones Solicitors

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. However you may visit Cookie Settings to provide a controlled consent. To find out more and amend your preferences, please visit our Cookie Policy page.
    Cookie settingsACCEPT
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    Save & Accept
    Powered by CookieYes Logo