As in previous years, January looks to see the property market receive an injection of much-needed stock, giving rise to a demand for property industry professionals including estate agents, surveyors and solicitors, and of course, our audio typing and transcription services to support these professionals.
The festive period is often the calm before the storm, as Boxing Day and New Year’s Day are high-traffic days on websites such as Rightmove. Prospective second-steppers and first-time buyers take advantage of being off work to plan big financial decisions for the year ahead.
The holiday season is often a catalyst for the property market as many realise they need a new home as theirs is too small or perhaps not close enough to loved ones. Similarly, first-time buyers come to the realisation they need a place of their own, more space or want to move in with their partner.
According to We Buy Any House, January is statistically the best-selling month of the year in the property industry. This is in part due to having no financial responsibilities, such as holidays, Bank Holidays, events etc – those have all been and gone in December, leaving January clear for other financial outlays.
Having said that, the typical seasonality of the property market could be impacted by the pandemic, meaning that 2022 might not follow patterns of previous years. As the stamp duty holiday ended in September, a lack of stock has driven house prices up, and prices were at an all-time high in October.
Rightmove has stated the market will be closer to normal next year following the last frenzied 18 months. December gave hope of a normal market, with the annual ‘December dip’ seeing house prices drop by £2,234.
Independent estate agent, Easthaus, also believe January is on track to mimic past years and the spring into summer period will continue to dominate when it comes to sales. However, experts at We Buy Any House believe that the pandemic could end the typical popular selling periods.
House prices are predicted to grow by 3% over the course of 2022 with the Property Investor Today predicting that the highest growth will be in the North West and East Midlands. It predicts London will have the weakest growth.
If you are predicting a sudden influx of work in January following the festive period or are concerned by the uncertainty of the property market in 2022, we recommend getting in touch with us. We are able to provide transcription and audio typing services to meet your demand.
Utilise our services to cope with the unpredictability of the industry and take the pressure off your team in 2022.