Latest Property News | Taylor Robinson

The property market is busy, with the start of 2022 seeing no slowdown in sales activity.
Nearly 107,000 sales were recorded in January. Except for 2021, this is the strongest start to a year since 2007 and up 10% on the January average (2012–2021).
Demand continues to outpace supply, sustaining pressure on prices. Rightmove report the biggest monthly jump in the asking price of newly- listed property since 1994.
n a sign of more balance returning in future months, home valuation requests were up 27% in January year-on-year, and up 50% compared to 2020 (Rightmove).
Source: Dataloft, HMRC (10 year January average 2011–2021)

The UK recorded average house price growth of 10.8% in 2021. This is the strongest annual growth at the year end since 2002.
The average price of a UK home now stands at £274,712, marking another record high. House prices increased by £23,407 over the course of 2021.
Annual increases in house prices were seen in all regions of the UK. The South West experienced the biggest increase (13.6%), followed by Wales (13%).
Detached (15.3%) and semi-detached (11.1%) homes recorded above annual growth in a market continuing to be driven by equity and a desire for more space.
Source: Dataloft, ONS, UK HPI

A net balance in demand of +64% was reported by survey participants for renter demand. This is the strongest result since 1999.
In the sales market, participants recorded a net balance of +16% for new buyer enquiries, up from +9% in December. This is the strongest figure since May 2021.
Conversely, supply of properties (new instructions) remains constrained in both the lettings and sales markets and will continue to put pressure on prices. Source: Dataloft, RICS (net balance of survey participants).
The RICS net balance score is calculated by the proportion of survey respondents reporting a rise minus those reporting a fall in the given indicator.

44% of home buyers in England were eligible for a Stamp Duty Land Tax (SDLT) holiday (or claimed relief) in 2021, totalling 566,700 sales.
Those qualifying in the 5 years preceding 2020 averaged just 6%. This highlights the impact this incentive has had on stimulating the housing market.
The SDLT holidays have contributed to sales volumes increasing by 43% in 2021, following six years of falls.
It is estimated over 60% of purchasers in Wales benefitted from a reduction in stamp duty taxation during the first six months of 2021 (Stats Wales).
Source: Dataloft, HMRC (residential sales only)

The Federation of Master Builders' latest State of Trade Survey reports that 74% of builders have raised prices for their work in Q4 2021.
At a time when they are reporting a 19% increase in workloads, 95% of builders are also seeing a rise in the cost of materials.
Labour shortages are also making it hard with 43% struggling to hire carpenters and 41% finding it difficult to find bricklayers.
Increased cost for home improvements, labour shortages and material price rises, may prompt homeowners to consider moving over improving.
Source: Dataloft, Federation of Master Builders