Property Market Update – May 2022
May 1, 2022

By Peter Lane & Partners

According to reliable sources within the industry, the first quarter of this year shows that regional prices grew at their strongest annual rate since March 2009, taking average values to a new high.

Data suggest the annual change was 11.3% which was up from 10.6% in December 2021. On a quarterly basis, prices increased by 3.5%, which was the strongest rate since quarter two of 2021.

The last two years has seen an explosion in interest in properties both in the countryside and regional towns, with huge numbers of people re-evaluating their lifestyle, due partly to the lockdown during Covid. It feels unlikely this will change anytime soon, coinciding with the increase in working from home.

For now, low supply remains the biggest challenge facing buyers, whilst prospective buyers were up 40% in the first quarter of 2022 versus the five-year average, new instructions were down 8% in the same period.

The Spring market has arrived, and sellers should look to take advantage of a strong market, for homeowners considering a move, it is a fantastic time to sell.

If you are considering that lifestyle change and would like to discuss the selling process further, please contact our office for friendly professional advice.

Huntingdon 01480 414800 email [email protected]

Kimbolton 01480 860400 email [email protected]