2022 Housing Market Starts Strongly

At Atkinsons Residential, we pay attention to the local housing market in Enfield, and we pay attention to what is happening nationally.

By being informed, we help you to make smart decisions, and we are fully committed to ensuring 2022 is the year you make a great move in the property market.

What are Rightmove saying about the housing market?

Rightmove’s first housing market report of 2022 pinpointed the following matters:

• The average price of property coming on to the market increased by 0.3%

• The average price of property coming on to the market stood at £341,019

• The average price of property coming on to the market was 7.6% higher than the equivalent price a year ago

• The average price of property coming on to the market was the highest annual rate of price growth, seen by Rightmove, since 2016

It shouldn’t be a surprise that asking prices have risen, because the demand for homes is much greater than the supply of property.

We know many would-be buyers in Enfield are looking for a house, so if you want to enhance your chances of connecting with the right sort of buyer, get in touch, and we will be more than happy to assist you.

Supply of homes has fallen

Rightmove also stated:

• The number of prospective buyers asking about property is 15% higher than it was this time in 2021

• The number of available homes per estate agency branch has reached a new low, standing at 12

• Rightmove state the number of property valuation requests is 44% higher than the 2021 equivalent

Tim Bannister, Rightmove’s director of property data, comments: “New Year sellers and buyers have been quick off the mark this year, with Rightmove recording the highest ever number of Boxing Day sellers coming to market. These early-bird sellers who got themselves ready to come to market are now benefitting from the busiest start to the year that we’ve ever recorded, with the number of prospective buyers enquiring about homes up 15% on this time last year.”

Tim Bannister continued by saying; “All of the signs suggest that prices are likely to continue to rise until more choice is available. Three regions are in most urgent need of new supply, the East Midlands, South West and South East of England, as they are now at unsustainable rates of annual price growth above 10 per cent.”

Tim Bannister concluded by saying; “Almost 40 per cent of people enquiring about a home who have a property to sell say that they are yet to put it on the market. In the current market, where they are competing against others who are able to move more quickly, this is likely to mean they’ll miss out on the home they want. To put yourself in the best possible position to proceed, you should become a ‘power buyer’, by making sure your current home is on the market or preferably sold subject to contract first, before starting the search for your new home.”

Contact Atkinsons Residential for any move in and around Enfield

If you are looking for guidance or assistance in the Enfield property market, we can help. At Atkinsons Residential, we are estate, land and letting agent specialists, and we look forward to assisting you as best we can. If you would like to arrange a property valuation, please call us on 020 8366 0261, while you can contact us on 020 8342 1234 for all letting enquiries.