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Will house prices drop in 2022? New year predictions from experts

THE UK housing market has boomed throughout the coronavirus pandemic, providing joy for sellers and agony for buyers as prices reach all-time average highs in 2021. But will prices drop in 2022?

Scott Clay from specialist lender Together, told Express.co.uk: “Looking beyond the impact of the Stamp Duty holiday and the pent-up demand following the reopening of the housing market last year, it’s highly likely the market will largely revert to type.

“Typically, the busiest time for property transactions is in the Spring and in the Autumn, with peak summer months and Christmas being times or relatively subdued activity.”

“The ‘race for space’ phenomenon meant existing homeowners progressed quickly up the ladder, but the same can’t be said for first-time buyers.

“Most were met with limited supply, extortionate prices and lengthy queues for virtual viewings.

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