london skyline

United Kingdom Housing January 2022

United Kingdom: Housing market stays red-hot at start of 2022

According to the Nationwide Building Society, house prices in the United Kingdom rose 0.8% month-on-month in January, following December’s 1.1% rise. On an annual basis, house price growth was 11.2%, above December’s 10.4% increase. House prices in January likely continued to be buoyed by tight home supply, a strong labor market and changes in housing preferences due to the pandemic. However, looking forward, likely monetary tightening by the Bank of England should take some steam out of property price growth.

On the outlook, Robert Gardner, Nationwide’s chief economist, said:

“It is likely that the housing market will slow this year. House price growth has outstripped earnings growth by a wide margin since the pandemic struck and, as a result, housing affordability has become less favourable.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest