When you take everything into consideration, we shouldn’t be too surprised to see that there are fewer house movers in the opening half of 2022 than there were for this period in 2021.
In 2021, we still had the stamp duty holiday, and of course, the first half of 2020 saw the pandemic shut down the property market for some time. This is why an increase of 133% in property movers for the opening half of 2020 and 2021 isn’t a surprise.
Many factors influence people’s desire to buy a house
When you compare the movers in 2021 and 2022, the drop is 35%, and of course, the impact of cost-of-living rises is likely to impact these figures too. There is still significant demand for property these days, but it is harder for many households to justify the cost of moving, or meet the criteria lenders impose on prospective buyers.
The study by the Halifax doesn’t tell us anything out of the ordinary or hint at major issues in the housing market. Rather, it confirms what is happening, and what many industry experts to happen.
We can help you with any property market move you wish to make
At Williams of Petersfield, we are on hand to assist you as best we can with any housing market move you wish to make. While the number of prospective movers has fallen compared to last year, there is still great demand for homes.
If you are looking to sell your house, rest assured there are many people looking in and around Petersfield. If you need any assistance on entering the market with confidence, we are here for you, and we are keen to assist you as best we can.
Andrew Asaam, homes director at Halifax, spoke about this situation, saying; “The number of home movers so far this year is lower than the record high set last year: this was not unexpected, and the housing market has remained buoyant in 2022 so far. The number of people moving home during the in the first six months of the year was above pre-pandemic levels and is, other than 2021, the busiest start to the year for home moves since 2008. Last year was a year like no other – the stamp duty holiday drove an incredible amount of demand, leading to an 133% increase in movers on 2020. So, it was always likely we were going to see a fall compared to that record high, but when we look at numbers overall – movers are very much still moving.”
Contact Williams of Petersfield for all your 2022 housing market needs
At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.