Harlow House Prices Likely To Remain High
Posted February 21st 2022
We are still early in 2022 that people are keen to look ahead, and see what is likely to unfold over the course of the year.
There are many property market professionals having their say, but it is also useful to look at the building sector, and see what they think. They believe house prices will remain high, and this is because they are unsure about how many houses will be built in 2022.
Lack of confidence hampers the housing market
The findings from the WhatHouse? Predictions Report of 2022 highlighted the following thoughts from industry professionals:
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Uncertainty over inflation will impact the building sector
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Rising cost of materials and product prices will lead to further price rises
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Challenges caused by border arrangements will not help the building sector
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Uncertainty over the new CA mark in the UK adds further challenges for the building sector
In their study, WhatHouse? Found that 71% of housebuilders are cautiously optimistic about 2022, 73% believe supply chain issues will be a negative factor.
67% of housebuilders believe that issues such as a scarcity of professionals, planning constraints and Brexit related logistical issues will ensure the supply of homes is slowed or halted.
Daniel Hill, Managing Director, WhatHouse? said: “Throughout 2021 UK housebuilders raised concerns around supply chain shortages. The problem was reported by volume and SME housebuilders alike, with almost three-quarters of both groups reporting supply shortages of key building materials. Looking ahead, more than a quarter said supply chain delays would have the greatest impact on the housebuilding sector in 2022.”
What do the experts say?
The Property Reporter website spoke with representatives from a wide range of builders and organisations from the trade.
Mark Quinn, CEO, Quinn Homes, adds: “For 2022, we see the continued constriction in the supply of new homes, as a result of the combination of price increases and shortages of materials and the delays in the planning system that have hampered construction significantly in recent years. We see these factors as underpinning the housing market in 2022.”
Kelly Sharman, Sales and Marketing Director, Hayfield Homes, said: “Given the supply chain and labour shortages that are creating delays to construction programmes, our biggest challenge in 2022 will be ensuring consistent high-quality delivery of new homes within a timely manner. These ongoing issues – which have been significantly affected by the pandemic and Brexit – are having an impact on output and ultimately the number of new homes being delivered to customers.”
Sharon Spinelli, Sales and Marketing Director, Robertson Homes, concludes: “I expect many of the challenges of the last two years to continue into the coming year. Trade and material shortages and Covid restrictions have all placed pressure on teams with a knock-on effect on completion dates.”
What are house prices in Harlow?
According to Rightmove, house prices in Harlow as of early 2022 are;
“Properties in Harlow had an overall average price of £340,831 over the last year.
The majority of sales in Harlow during the last year were terraced properties, selling for an average price of £297,353. Semi-detached properties sold for an average of £381,810, with detached properties fetching £517,803.
Overall, sold prices in Harlow over the last year were 5% up on the previous year and 7% up on the 2017 peak of £318,407.”
Contact Intercounty for all your Harlow property needs
For property enquiries in Harlow, please feel free to call us on 01279 639666 or why not email us at harlow@intercounty.co.uk. With considerable experience in the local market, and free valuation services, we look forward to helping you move
