In 2022, will the Real Estate Prices fall down?

Many has predicted that the set property prices probably could fall down this year. In the month of March, the house prices were increased by all an average. And as per the Letting Agents in Birmingham, it was the largest as observed since March 2004. 

Additionally, it indicates that in the two years since the housing market was on halt due to the COvid-19 reason being, the high prices for homes by an astounding rate of £55,551. The price that has gained the estate Agents in Birmingham witnessed for homes doesn't seem to be slowing down, any sooner. 

For how long can this increase in home prices however, is the question on everyone's mind. 

And will housing prices start to decline in 2022?

 Let's look together into this. 

How would rising interest rates affect home prices?

Recently, borrowing money has been incredibly affordable because the Bank of England base rate has been at an all-time low. In an effort to control inflation, the base rate has hiked four times since December, coming in at 1%. Mortgage payments may potentially increase if the base rate climbs once more. 

This could marginally reduce the number of purchasers visiting the real estate market when combined with the rise in living expenses. The experts panel at Imminent Reality so far haven't noticed any indications of this.

Know your 'Free Property Valuation near me' 

Does consumer demand still exceed supply

Absolutely, yes. In fact, some Letting Agents near Birmingham are still talking about the n number of offers from many buyers for every type of property in the town. Here, the lack of stock is what is taking over the market place. As in the new housing stock is urgently needed, and as long as there is big demand, one can clearly assume that the house prices will continue to touch sky, but not as compared with the last couple of months. 

How can buyers make themselves stand out in a crowded market?

In simple words, when you are selling a property, then for sure, you have ideas even to buy it. See, if you have a property to sell, make sure you get Free Property Valuation service before listing it in the market. 

In contrast to buyers who must begin the sales process from scratch, you will be able to move fast if your own property is sold subject to contract. An excellent place to start is by estimating your potential selling price.

 

Which is more affordable: buying or renting a home?

When you consult with the 'Letting Agents near me' services in Birmingham, one needs to check out for the listing prices of the properties. Like for instance, in December last year the following 4 interest rate rises, more than it was as 10 years ago. However, the Estate Agents in Birmingham thinks that when there was strong house price growth then, historically evident there was low interest rates also, to balance the costs out. 

 

As a result of tenants seeing the full impact of growing costs, equivalent monthly rent payments are now 40% higher than they were ten years ago, and are currently, increasing at the quickest rate ever recorded by Imminent Reality. Renting is no longer noticeably cheaper in terms of monthly expenses because the difference between paying down a mortgage and paying rent has shrunk.