Despite 2022 starting on a good footing, issues surrounding the cost of living crisis remain with inflation at a peak and uncertainty regarding the conservative leadership election.

There are supply issues across all markets and demand is expected to remain strong, putting pressure on prices; however, this will be largely determined by whether the national economy enters the anticipated recession and how well it recovers. PCL lettings growth has been particularly strong, already exceeding the previous quarter’s forecast and the national market continues to see high prices surge. The PCL sales market has continued to see growth, but at a more muted rate than expected.

To read Strutt & Parker's Summer 2022 Residential Report, click here.