Demand For Homes Is Holding Up

Even though demand for homes has been constant for some time, it doesn’t look as though this is going to fall off or away at any point soon.

At Prestige & Village, we understand why many people are looking to move to the countryside and make some changes to their life. We have an excellent range of rural and village homes on offer, and we are happy to bring buyers and vendors together.

This is something we have seen for ourselves and in our dealings with clients, but it is also something we have seen in the market in general.

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As you’d expect, we stay in touch with the latest findings, and a number of property market specialists discuss how active the market is continuing to be.

Richard Combellack, Chief Commercial Officer at BriefYourMarket, says: “The 62-week pre-Covid average is an excellent baseline, as all data during the pandemic would obviously not give us an accurate picture due to the unprecedented circumstances influencing the market. While vendor and landlord enquiries were elevated at the start of the year, we have seen figures return to baseline numbers, which means we are seeing a more normalised market in terms of the numbers of vendors and landlords leads. Conversely, buyer and tenant leads have remained elevated during the first two quarters of the year.”

Combellack also said; “New buyer enquires were at 102.46% at the end of June with demand 2.46% above the pre-Covid average. This has dropped from the 2022 buyer enquiry peak of 142.98% seen during January but is still higher than the baseline. In the lettings sector, tenant enquires were at 186.80%, or 86.80% above the average at the end of June. June was a record month for the year in terms of tenant enquires, with the all-time high seen in May 2020 when tenant enquiries reached 250.19% or 150.19% above the baseline.”

What are the experts saying?

Gavin Brazg, Founder of PropCast and TheAdvisory, said: “We end Q2 2022 reporting that despite most of the UK being in a hot sellers’ market still, buyer demand is starting to show signs of cooling down. I suspect this is due to a combination of rising energy bills, interest rates and the general cost of living, alongside growing concerns about the economic outlook. A rather interesting find is that London as a Region has seen buyer demand rise 8% over the last quarter, which could be a result of international purchasers investing their money once again now that travel restrictions have been removed, as well as people returning to city life having fled to the countryside during the pandemic. Furthermore, for the first time ever since PropCast was founded in 2018, London appears in its Top 10 Hottest Postcode Districts, twice.”

Contact Prestige & Village for all your property market needs in 2022

At Prestige & Village, we care about our community, and supporting others. We aim to provide you with as much help and assistance as we can. If you have any property or housing questions, please feel free to contact us today.