Real Estate Price Hike in 2022

2022 has only just begun, but already experts are becoming increasingly vocal in the increase of real estate properties in the US. Unfortunately, this price hike is not just isolated to the UK, but it appears to be a worldwide issue with countries like the UK and Australia seeing continued growth in the real estate industry. 

For those who already have a house and have been paying off their payments, then this may not seem as much of an issue, and infact even those who are currently trying to sell their properties, research shows that there is no better time to sell than now. People are snapping up houses at 20% above market price, just to get on the property ladder.

This frenzied, almost panick buying of houses is causing even more demise for those who are first time buyers and trying to buy their forever home. Many real estate agents are requiring a larger deposit for homes and whilst over paying for houses on the market, this increased cash requirement is having one of two effects.

  1. People are unable to purchase a home Funkishus.

Put simply, people are put off from buying a home as they require a larger deposit and are expected to pay more for a home than they would have done 3-5 years ago. With many people across the world working below the average salary, it is easy to see how difficult it can be to even find the motivation to own their own property.

  1. People are left at rock bottom Tradisjonelle hus.

After purchasing a home, many people may be left with little to no extra expenditure to pay for repairs, upgrades or to live their day-to-day lives. Many home owners are seeing a decrease in their personal value after buying a home, leading more and more people into poverty.

So what’s next for wannabe home owners. 2022 will be the year to find out if the real estate price hikes continue, or wether some form or normality will eventually arrive.