How has the housing market changed in 2022?
You may have heard that the housing market is still going strong after the pandemic boom, but things have changed since Covid restrictions tapered off.
A popular property portal recently reported on key 2022 trends – here’s what buyers and sellers need to know.
Buyers tighten their focus
One important shift lies in how people filter search results when looking for their ideal home. Pre-Covid, browsers were more open to exploring a wider range of properties, but this is no longer the case. Instead, prospective buyers are more specific about their search criteria, with gardens higher on people’s agenda than ever before.
Location becomes more fluid
Although buyers have narrowed their search in some ways, many have widened the net when it comes to location – by 58 square miles, in fact.* It appears that home-hunters are more willing to compromise on the area to bag a home office or a bigger garden.
Cities regain their shine
During the most intense pandemic period, people abandoned crowded cities in favour of the rural dream. However, as society returns to normal, people are returning in their droves. A recent report shows that there’s been a 50% hike in countryside dwellers focusing on cities such as London, Bristol and Liverpool.**
This reversing tide has led to nearby train stations becoming a prized asset once again as buyers reassess commuting time. Likewise, apartments have regained popularity now that workers and students flock to urban centres.
What’s the takeaway?
By understanding how market trends are shifting, we can help you showcase your home to attract the right buyers. With the market in such a state of flux, it’s crucial to have an up-to-date valuation – especially if your home will benefit from the changes mentioned above.
Thinking of moving soon? Contact us today to book your valuation or discuss our marketing approach.
*Rightmove
**Compared to January 2021.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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