New Year resolution sellers gearing up for 2022 as closer to normal market beckons

• The price of property coming to market sees its usual December dip, down by 0.7% (-£2,234) this month
• Following a hectic last eighteen months, our partners at Rightmove predicts a closer to normal market during 2022:
• While fully available stock for sale has hit a new record low this month, valuation requests from home-owners are 19% up on this time a year ago, suggesting more people will be making a New Year resolution to move.
• Strong buyer demand is carrying forward into 2022, with November showing buyer numbers 41% up on election-subdued 2019, and still 3% up on booming 2020
• With two months of data yet to be reported, 2021 has already seen the highest level of completed home sales since 2007, and Rightmove expects 1.5 million for the full year:
• Seven out of 10 properties advertised on Rightmove are currently marked as sold subject to contract, compared to just two out of ten back in 2012, underpinning our prediction of a further 5% price rise in 2022
• Better balance of supply and demand will suit more hesitant movers who may have held back from this year’s frenzied market

National average asking price

Regional trends

Executive summary

• As an exceptionally busy 2021 draws to a close, Rightmove expects a closer to normal though still busy market in 2022.
• One sign of a return to traditional norms is the continuation of the seasonal fall in the price of property coming to market, down by 0.7% (-£2,234) on the month, compared to a 0.6% fall this time a year ago.
• While we forecast prices to rise by another 5% in 2022,
• Some of the edge will be taken off sellers’ pricing power by increasingly stretched buyer affordability, and
• More buyer choice boosted by previously hesitant sellers now gearing up for a New Year move.
• Fully available stock for sale has hit a new record low again this month.
• Promisingly, requests from home-owners to estate agents to have their home valued are 19% up on this time a year ago, indicating that much-needed buyer choice will be coming to market in the new year.

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