Which UK regions could see house prices rise in 2022?

UK house prices are set to rise next year but some regions could see a bigger jump than others.

Experts predict that average property values will increase 5% in 2022, with growth of more than 7% in some areas.

According to Rightmove, strong buyer demand and a low level of available properties will push up prices in the New Year.

House prices are expected to soar in the most competitive UK markets.

That includes Scotland, the West Midlands, the South West and Yorkshire and the Humber, the property platform said.

Those regions are likely to see house price growth of 7% or more next year.

Separate Rightmove research showed that the average house price in Scotland this month was £165,963.

In Yorkshire and the Humber it was £219,889 and reached £264,055 in the West Midlands.

Most read in Money


'Well-connected' flat goes on sale for just £9k – but it holds a dirty secret


The five Universal Credit changes coming in 2022 – how it affects you


Dad on Universal Credit gets just £5 for Christmas after ‘missed appointments’


How heating your home could CAUSE mould and damage your property

Average prices in the South West reached £350,884 in Deember.

Meanwhile, property values in London will continue to grow but at a slower rate compared to the rest of the country.

House prices in the capital are expected to increase 3% in 2022, from the current average price of £637,220.

This is due to a number of factors including a price boom before 2016, the reaction to Brexit, additional taxes for overseas buyers and people moving out of the city during the pandemic.

Rightmove’s director of property Data Tim Bannister said: “It’s been a hectic 18 months for the property market since the end of the first lockdown, with changed housing needs driven by the pandemic inspiring many moves, and the stamp duty holiday encouraging some movers to bring their plans forward.

"The net result as we approach the start of the 2022 market is the lowest ever available stock of property for sale per estate agency branch, yet with ongoing high buyer demand.

"This imbalance between supply and demand has resulted in buyer demand per available property being at near record highs, suggesting that the 2021 scenario of multiple buyer bids on a high proportion of properties when they come to market is set to continue in the new year."

The Sun spoke to experts about their predictions for the UK housing market in 2022.

The most in demand coastal towns have been revealed including Bournemouth and Southampton.

If you're hoping to sell your home in 2022, make sure you know the top tips to attract buyers.

We pay for your stories!

Do you have a story for The Sun Money team?

Email us at [email protected]

    Source: Read Full Article