The 2022 mortgage market is a blank canvas

Another trend we have noticed gathering pace in recent times is for first-time buyers to move straight into houses, as opposed to the more traditional route of starting out with a flat. Obviously this is very dependent on location, and therefore property value.

New housing developments are springing up at pace around the UK – nearly 50,000 new homes were built in England during the first three months of 2021 – reflecting the buoyancy and resilience of the housing and construction sectors.

We expect house prices to continue to rise, and housebuilders are working hard to meet the demand for new properties – and there is no doubt that demand is there.

Overall, I would argue that the mortgage market is well-placed to tackle whatever 2022 throws at it. The future is bright for everyone in the property market, not least the buyers themselves. A bleak picture? No – more like a blank canvas, replete with possibility.

Phil Anderson is managing director of Phil Anderson Financial Services