Today’s Office of National Statistics latest figures are in for January 2022. This gives a real insight into what the property market looks like in the UK. We have summarised the key statistics for an easy overview of the UK property market (below).
It was a strong beginning to the start of the year for property prices with the average house price up by £24,000. With Spring around the corner, we are expecting to see the trend of rising house prices to continue. While this is good for homeowners this is a worry for people trying to get on the property ladder. With the cost of living rising, it is increasingly more difficult to save and could slow down the amount of buyers, and will this eventually affect the supply and demand? It will be interesting to see how the property market unfolds over the next months.