Will residential property prices keep on rising? We ask property experts what they are expecting to see.

by | Nov 20, 2021

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Earlier this week, the September data for house price rises was released by HM Land Registry.  It revealed that:

– on average, house prices have increased 2.5% since August 2021

– there has been an annual price rise of 11.8% which makes the average property in the UK valued at £269,945

But what do property experts think of the very strong gains made by residential property since the start of the Covid pandemic? Are these rises set to continue or are there dark clouds on the horizon? One thing’s for sure – there’s a lack of consensus in our experts’ opinions!

George Franks, co-founder of London-based estate agents, Radstock Property“The ongoing strength of the property market underlines how the fundamental life and work changes brought on by the pandemic have been a far greater driver of house price growth than the stamp duty holiday. What’s more, the impact of the pandemic on housing preferences is still only beginning. What people want from their homes has changed beyond recognition and the recalibration of housing needs will play out over years, not months. Wednesday’s inflation data will put added pressure on the Bank of England to raise rates, but even then they are unlikely to rise materially and so values are more likely to stabilise than fall.”



Mark Robinson, Managing Director of Southampton-based Albion Forest Mortgages“Fewer and fewer properties are coming onto the market now and the lack of supply is definitely supporting the price growth we’re seeing. That said, we are heading into a quiet time of year for property sales, namely the run-up to Christmas. I think this will lead to some stabilisation of house prices going forward. The second half of the year is unlikely to be a mirror image of the first, when the market went off the scale.”


Thomas Honour, director of Brackley-based Thomas Honour Mortgage Services: “It’s no secret that the Stamp Duty holiday powered transactions during much of the past year but people’s changing needs as to what they want from their homes continue to drive the market onwards. That’s very clear in this latest house price index. It’s unlikely house prices will fall back to pre-Stamp Duty holiday levels any time soon due to demand sharply outstripping supply.”



Rob Gill, Founder of London-based Altura Mortgage Finance“The property market was launched into the stratosphere by the stamp duty holiday and has remained in orbit by the rocket fuel of record-low mortgage rates ever since. The pandemic caused many people to question their lifestyles and that is clearly still keeping demand strong.”



Lewis Shaw, founder of Mansfield-based Shaw Financial Services: “On the surface, all is well with the property market. But make no mistake: we’ve not seen the true financial impact of COVID or Brexit yet, and 2022 could prove to be a volatile ride for bricks and mortar.”


Scott Taylor-Barr of Shropshire-based Carl Summers Financial Services“We’ve all become a bit numb to record house price rises over the past 18 months, but it’s quite possible that’s all about to change. With the end of the stamp duty holiday, furlough being withdrawn, soaring inflation, as announced Wednesday, and looming tax rises, the forecast for house prices is looking a lot less favourable. There could be a bumpy ride ahead so buckle up.”



Iain Swatton, Head of Intermediaries at the mortgage switching platform, Dashly“Buyer demand for property remains extremely high and this, coupled with a lack of supply, has been enough to maintain the forward momentum in prices. With borrowing costs at all-time low levels and the availability of higher LTV mortgages set to remain, it’s reasonable to expect prices not to be subdued for too long. 2022 has all the signs of being another bumper year.”



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