Will First Time Buyers Be the First to Ease Off in 2022?

As of the beginning of 2022, the number of first time buyers has been estimated to sail past the 400,000 mark – the highest it has been since before 2008 and the global financial crisis.

In the face of so many uncertainties implanted from the third lockdown of early 2021, the wealth of first-time buyer transactions reached the highs of 408,379 in a year where there was a 35 per cent increase over 2020. Today, first-time buyers make up 30 per cent of all house purchases with a mortgage – up from 36 per cent in 2007.

Looking Back

You would have to travel back 15 years to see transactions at this level, with 2006 being the previous buyer peak where 400,900 jumped onto the first step of the housing ladder. When the financial crisis of 2008 occurred, the numbers hovered around half of the current amount at 200,000.

Today, the falling unemployment numbers, low borrowing costs and low deposit mortgage deals are driving the demand for the first-time buyer crowd. These buyers have also not been deterred by the price of their first home either, which has increased by 9% in this past year. The huge benefit of being able to increase their deposits through the stamp duty holiday and sudden drop in expenditure during lockdowns has kept them focused and driven over the past year.

First-time buyers are typically in the high-income groups who have had a significant benefit on their financial standing during Covid-19 restrictions, making 60% of first-time buyers among the top 40% of the income distribution.

Demand Over Supply

In the near-term, housing demand is going to continue to exceed supply. The expectation now is that prices elevating in comparison to local earnings will see a dampening of activity. This is expected to see first-time buyers be among the first to taper off with interest.

With many first-time buyers focusing their efforts to buy property in Stockport and more rural areas away from city living, looking for the perfect home to start building towards family life – it is unlikely that first-time activity numbers will continue to stay at the 2021 levels and 2022 will see a more concentrated effort from those homeowners looking to sell up and move onwards.


As with anything, uncertainty plays a huge shadow over everything to do with the economy. Different variants of the coronavirus are always going to play a big part in fluctuation and demand, with home viewings potentially scuppered if a more serious state of lockdown is reintroduced.

Whilst this may feel even more pent up demand, it may also scupper the desire for people to move out of their surroundings in a time of crisis – meaning things could slow considerably more.

Contact the team at Joules Estate Agents Stockport for all information on first time buyers, how to sell a house and buy a property advice.

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Initial Outlook for 2022

With the housing market ending 2021 on record highs for house prices, all initial thoughts running into 2022 has been in the area of positivity that it will carry over for many months to come.

However, due to the current surge in Omicron cases sweeping through the country and the potential for further restrictions to come back into play – the outlook may not be as bright as expected.

Current Talk

The current talk around the water cooler is that the housing market will see a slowing sooner than expected in 2022, especially if vendors are deterred from allowing some viewings of properties.

The Omicron variant could be the biggest factor reinforcing the slowdown if it leads to a weaker labour market. If wider economic conditions remain resilient, higher interest rates would also provide cooling down.

House price growth has steadily outpaced income growth significantly in the past 18 months, leaving the affordability of housing less in favour than pre-pandemic levels. At this point, uncertainty is the name of the game.

Unexpected Year

In 2021, the strength of the market surpassed all expectations and has the potential to do so again as 2022 progresses. The market still has significant momentum and shifts in housing preferences resulting from the pandemic and it could support activity and price growth moving forward. For the near term, however, the Omicron variant could serve to reinforce the shift in preferences.

The spread of the virus could also play a significant impact on 2022. In 2020, the first pandemic lockdown strengthened the demand for housing due to the pent-up frustration demand, fueled by the full loss of the ability to travel on holiday and the need for more space. This led to more and more people relocating from urban city areas to buy property in Stockport and other rural areas.

Wider Appeal

The appeal of greener pastures with good countryside links saw the most interest from first-time buyers taking full advantage of the stamp duty holiday, second home seekers and people wanting to upscale to bigger houses with more room. People as far as Birmingham and London sought out rural northwest areas in Stockport and Cheshire upon realising they could work from home – choosing a more luxurious setting away from the cities throughout 2021.

With rising Omicron cases in the Christmas run-up, as well as inflation and interest rates rising, reduced activity in the market was apparent yet not significant.

Many are suggesting that further Covid restrictions will lead to another dose of pent-up demand. The difference with this round will be the continued lack of supply compromising the momentum, as well as sellers potentially being put off of holding viewings for buyers out of concern for rising Covid levels in the area.

Contact the team at Joules estate agents Stockport for all the information on how to sell a house, advice on renting a house and how to buy property in Stockport.

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will house prices rise again

Will House Prices Rise Again in 2022?

Many people are sitting and waiting to see what the state of the housing sector will be upon the arrival of 2022, and change may not be apparent as soon as the new month arrives. So, will house prices rise again or not? It may take months for the real state and calming of the 2021 housing boom to showcase its future outlook.


Whilst average prices fall by 1.1 per cent in December as a result of buyer and seller deals agreed in the autumn, impacted by the end of the stamp duty holiday and fall back to normal demand levels – the prices agreed between buyers and sellers from October and November will be reflected by a 2.5 increase in January, most likely due to the severe shortage of new stock hitting the market.

House price growth in 2022 is seen as inevitable when based on transactions currently underway, with the autumn’s strong market performance against a lack of stock and increasing levels of buyer demand helping to support prices.

Back of Christmas

Over Christmas, there has been some added fuel to impact the housing market buyer sentiment, with the current spread of the Omicron variant bringing a lot of uncertainty and concern over working conditions or employment, as well as inflation and economic growth.

With interest rates currently remaining very low, the first rise feels very significant and highlights that despite the escalation of the covid-19 situation, the Bank of England will not hold back on tackling rising inflation.

With rising borrowing costs impacting the ability and suitability of first-time buyers continuing their ascent on the market, those currently in the position to buy may find themselves pressured to flick the switch and secure a fixed rate deal as soon as they can.

Stockport Scene

Will house prices rise again in Stockport? Those still actively looking to buy property in Stockport, the northwest’s highest sought borough, are jointly concerned about the availability of housing in the area – fighting off not just first time buyers, but also people coming from other parts of the country who have realised that they do not need to travel to the busy office to work, and prefer a more rural countryside setting.

With national and high street estate agents Stockport seeing record numbers of enquiries over the last year, and many more people looking to secure a property very quickly – the call from people enquiring how to sell a house is all-important. Those who have been sitting on their decision to make a move and sell up are standing in great stead for the next month at least.

Contact the team at Joules estate agents today for all buy property advice.

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Who’s looking forward to a New Year

Whilst 2021 has had its fair share of ups and downs, surprises and stresses for many people on the housing market – the important thing to remember is that it has been an amazing year for people making the move and securing their keys to their forever home.

North West Takes the Podium

The Northwest has seen a huge surge in demand in 2021 for people looking to buy property in Stockport, with the people looking at how to sell a house struggling to stay ahead of that demand.

As a great mixture of rural and city accessible landscapes, it became the epicentre of house hunting activity from people as far as Birmingham and London seeking second homes or full countryside moves. It has also been a prime area for people seeking advice on renting a house in the area, making it one of the most sought after areas in the county.

As the mortgage situation and the stamp duty holiday played their hands in increasing interest in housing, first time buyers came in the hundreds to the area to stake their claim on properties for the first time.

Buyers Getting Set to Move

With the end of the festive season mere weeks away, many people who have been preparing to move out of their properties into a new home in the new year creates an influx of fresh properties coming to the market.

January seems set to continue the housing demand and, although no one can predict what 2022 will have in store for the state of housing, it is sure to see many people coming into the scene to get a place better suited to their needs – even if Omicron decides to make our lives a little difficult, to begin with.

Independent’s Are Still the Best

Over the past year, it has been hard for many national estate agencies to keep track of the growing desire by many to purchase or sell their homes in a quick fashion. This has resulted in independent estate agents Stockport seeing their services more approachable to those wanting a more satisfactory result.

With a more personable approach and existing relationships and reputations with many businesses and individuals around the localised area, the team at Joules have enjoyed a stellar year of satisfying customers with a more dedicated and personalised service.

This we look forward to continuing as the new year starts to show its true colours, and whatever challenges are faced within the housing market moving forward, they will be faced together. All of our team at Joules estate agents Stockport wish everyone a Merry Christmas and a Happy New Year for 2021,

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housing boom

Will Omicron Affect the Housing Boom?

Circles of uncertainty from many industry insiders point to the potential effects of the Omicron Covid variant currently circling the nation, with forecasts of doubt on the housing boom and  housing market in particular.

With the quicker pace of laboratories providing anecdotal evidence at a much faster reaction compared to 2020s efforts providing some positive outlook, it is still difficult to gauge the effect that the housing market will have if any.

Uncertain Start to 2022

The new variant could produce a delay in the anticipated interest rate rise, a previous dead cert among analysts for the Bank of England’s monetary policy committee meeting this week.

With expected rising rates and growing supply set to start applying downwards pressure on prices in 2022, the Omicron variant has raised concern that, if proved to be serious, may affect supply and demand around the timing of the rate rise – causing frustration and uncertainty in the outlook.

Clear Trend

A clear trend that is certain is that demand has shifted back towards the Southern area of London, which is clear when looking at the change in volume of new prospective buyers registering interest over the previous 3 months in comparison to 12 months ago.

Whilst areas in prime central London saw their biggest ever increases at 78 per cent or above, they were still dwarfed by the demand for more countryside escape moves that saw a huge increase in 2020 and resulted in a majority seeking to buy property in Stockport and other rural areas.

Many overseas buyers are preparing to enter the market again in 2022, and it means that they are following the Omicron variant situation in a very close manner to determine their course of action. With more buyers registering from overseas and the Middle East, the market still seems to be in a precarious holding pattern.

Domestic Buyers

Domestic buyers are providing the lion’s shares of current activity, with several sellers of London property still seeking a move to the country. Others include those who have moved to the country but want a second property with a more city central base.

Supply is set to get somewhat stronger at the beginning of 2022 – providing the Omicron variant does not drastically alter the landscape of the country as Covid did in 2020. The vicious circle of low supply was instigated by the Black Friday levels of house sales centred around the stamp duty holiday, resulting in owners not being able to find homes to move into themselves.

With sellers now looking to postpone their house sales until after the Xmas period is over, 2022 is looking to see a surge of new properties going to market. How Omicron will play into the 2022 housing landscape/ housing boom, but the response to this level of the variant has seen a rush to combat it at the head.

Contact the team at Joule’s estate agents Stockport for information on how to sell a house and all buying a property advice.

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Why Independent Agencies Are the More Comforting Choice

When you begin looking at how to sell a house or have the interest to buy property in Stockport, what kind of service do you feel suits you best? Do you prefer a more personal approach or are you comfortable being a number on a board to hit a target?

Throughout the past two years, many people have needed that little bit of extra support and peace of mind, and people require more time and focus to avoid losing out. Whilst a major estate agency will have a wider portfolio, they also have targets – and that is what you would fall into.

This results in knowledge of your property not being as in-depth as it probably should be, and their knowledge of you may also be lower in-depth. This is why independent estate agents Stockport are a number one choice for those wanting a more personal service.

Less Automation

One of the most frustrating aspects of dealing with major estate agencies is trawling through their countless automated services to get what you want – which includes being left on hold for longer periods.

When automation is used correctly it can be a very valuable tool in saving time, but the only problem being is everyone is left waiting with differing needs – some more urgent than others. Independent’s will have a more hands-on approach and be able to provide a more urgent and tailored approach towards clients and their property.

Local By-Laws and Regulations

Local information does not stop at where the bus stop is and what there is to do in the area for entertainment – it also falls into local laws, health regulations and codes of the area.

A local estate agent has a wealth of relationships with many businesses, councils and establishments in the area that better benefit the people looking to buy property. As laws and regulations change within the area, a local estate agent will know straight away, whereas a major chain would possibly miss out on the information until late in the game due to the amount of scope they have.

Less Confliction

Major estate agents find it very easy to have a much bigger workload due to many extra clients in other areas, which leads to a lot of conflicts.

A major estate agency may need to focus on satisfying a large number of clients and end up pushing you to the bottom of a pile and getting to you later. An independent estate agent would put your needs first and foremost and add more emphasis on making you a valued customer.

For a more custom-tailored service, contact the team at Joules today.

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