What Is Happening In 2022 Housing Market?

What Is Happening In 2022 Housing Market?

It is still very early in 2022, but as with any industry, many people are lining up to analyse what has happened, and what is happening, in the housing market.

At Coakley & Theaker, we speak with buyers and sellers every day, and we know it is a hugely exciting time. Yes, the demand for homes still outstrips the supply of property, but there are deals taking place. Also, it looks as though the number of homes coming to the market is rising.

We stay in touch with the latest market news and research, and there is a lot to look out for.

The market often focuses on first-time buyers, but a recent study indicates there is a growth of mature homeowners looking to move home at the moment.

Mature Buyers Searching For Property

According to information provided by whathouse, new home hunter activity in January 2022 was the highest it has been since May 2021. The research indicates there was a significant number of property buyers aged 50 or older looking for a property. There was a rise of 83% for buyers in this age group looking for retirement new build homes.

Other notable findings of the study include:

• A 50% increase in searches for luxury property
• An increase of 27% in help-to-buy properties
• An increase in the search for retirement properties by six-times

Daniel Hill, Managing Director, whathouse.com, spoke to the Property Reporter website, saying: “New home hunter activity traditionally ramps up in the first month of the year as people turn their attention to actioning plans. Despite the buoyant market activity, we saw throughout 2021, we’ve recorded even higher levels of new home buyer interest in January, signalling that a new group of prospective buyers are considering a move to a new build property. This group is primarily made up of home hunters seeking retirement and luxury family homes. They may have held back during the uncertainty of the pandemic but are now resolved to consider a move to a new build property, rather than second-hand, to improve lifestyle, increase available space and lower energy consumption and running costs.”

Daniel Hill continued by saying; “The record-breaking jump in search for retirement properties (up 83%) leaves us in no doubt that for many people in their 50s and 60s, the past two years have provided an opportunity for contemplation. Now, as health experts agree the coronavirus pandemic is reaching its end, we’re seeing a surge of interest in retirement properties as 50+ home hunters consider a change of lifestyle or a move to be nearer children or grandchildren.”

Contact Coakley & Theaker for all your Bury St Edmunds property market needs

At Coakley & Theaker, we aim to support the local community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today by calling us on 01284 769691.