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UK residential property market takes agents and analysts by surprise during lengthy pandemic

Regional cities and the country outperform London by a wide margin, with the capital showing mixed price performance

Published Sat, Dec 25, 2021 · 05:50 AM

London

THE residential property market in the United Kingdom has taken agents and analysts by surprise during the lengthy pandemic.

Regardless what agents and economists opine, their 2022 predictions for the sector can, at best, be regarded as guesswork.

The number of variables has multiplied in tandem with Covid-19 variants.

They include the shift towards working-from-home and a growing trend of people moving out from pricey apartments in central London and other major cities to houses in the suburbs and villages.

There is also a shortage of quality properties and new projects, not to mention how inflation is denting income and affordability and causing mortgage rates to rise.