As we entered this year, we were unsure of what lay ahead with a lockdown looming and no real sense of just how things would pan out as the weeks and months passed by. Many industries continued to struggle through 2021, while others found a way to adapt and a select few found themselves in incredibly high demand.
A shortage of materials for new-builds and home improvements saw the price of properties and building work in general consistently rise throughout the year. This made the property market a very profitable place for those who were happy to sell during the last 12 months, as the number of people looking to buy far outnumbered those who were looking to sell.
This did mean that sale prices on average have been far higher than ever before, though challenges among estate agents were faced due to the shortage of properties available for sale or rent.
With so many people working from home and having more free time due to lockdowns and restrictions, yet still receiving a steady income - either through normal work resuming or through the Government’s furlough scheme - it resulted in a significant number of homeowners opting to carry out home improvements while they had the opportunity.
Many of these homeowners may have otherwise sold and moved to another property, but instead opted to add a home extension or to convert rooms into a more useful space.
If the situation across the UK is able to continue improving as we make our way through 2022, we may expect many homes that come to the market to be of a very high calibre thanks to all of the home improvements that have been carried out during the past year or two, so if you’re in the market for a new home next year you may have some fantastic opportunities - though competition is expected to still be rife, so it’s important you are actively searching and make your interest known as early as possible.
Properties are going to be in high demand for a long time yet, so why not begin by making good use of our free property valuation service in the new year?
For all enquiries, get in touch by giving us a call on 02920 668585, popping an email over to email@example.com or by giving us a visit and calling into one of our three Cardiff based branches.
With all that said and done, we hope you’re enjoying the festive period and the entire team here at CPS Homes would like to wish everyone a wonderful new year!