Will Barnsley properties continue to increase?

In Barnsley, property prices have increased by 17.9% from May 2021 to May 2022. For context, the average price in May last year was £138,425 and since then, it has increased to £163,082. This means that on average, Barnsley properties have increased by £24,657. Do you consider this a brilliant time to sell? Experts have predicted a crash since the pandemic started, but since the first lockdown, prices in Barnsley have increased on average by £38,887.

House the market crash in 2022?

While we cannot predict the future of the UK property market, it still seems very unlikely that a crash will happen anytime soon. There is still plenty of demand and a short supply of houses, which continues to drive up prices. However, due to the current issue with the cost of living crisis, the general public believes that the bubble will burst sometime soon. But what do experts say about the future?

What do experts think will happen now?

Expects are predicting different outcomes over the next couple of years:

• Hamptons house price forecast predicts a rise of 3.5% each year between 2022 and 2024
• Lloyds Banking Group expect house prices to maintain their current strong levels over the next year, but growth to be much flatter through 2022 at around 1%
• The Bank of England has predicted house price growth to slow down later this year, with mortgage providers expected to cut down on lending as the economy struggles
• Property consultancy Cluttons suggests that in some parts of London, prices could fall by as much as 10% next year while Foxtons predict the growth of 1 to 3% in the capital

So, is it a good time to sell?

Well, it all depends on your situation, but most of the country should've gained a substantial amount of equity in their property recently. So if you think the bubble will burst, well now might be a good time! Remember, experts cannot see into the future, which we witnessed when they predicted the future of the market since the first lockdown, so don't take their word for it. What is your gut instinct for the future of property prices?

How much is your property worth?

Lucky for you, Beecroft Estates have a fantastic FREE INSTANT VALUATION tool, so you can find out this very second, what your property is worth. Give it a try and find out if it is time for a change. Click here to find out what your property is worth today and if you're happy with your valuation, call our Wombwell Branch on 01226 340 110, or call our Mexborough branch on 01709 794 677 and we will bring your property to the market.