August, 2022
After more than a year of soaring prices, interest rates and energy prices, the economy has entered a sate of flux. And yet, the property market is still defying expectations. Despite predictions of a summer property slump, the average price of property coming to the market hit a sixth consecutive high in July 2022, reaching £369,968 according to Rightmove’s House Price Index.
Amid that growth, how will the rest of 2022 play out for the housing market? Will the much-discussed post-summer slump actually take hold, or will the back to school year see a drive to buy with prices set to continue? To assist buyers and investors navigate another unusual year in property we have analysed buying patterns to review what we are likely to see over the rest of 2022.
Fears around a ‘burst bubble’ or a radical drop in house prices are unlikely. We aren’t seeing a significant drop off in buyer interest and despite higher mortgage rates, demand remains steady. To support this Zoopla’s House Price Index July 2021 figures show that property demand still remains 25% above average over the last five years, on par with year on year figures.
Following the stamp duty led home moving frenzy of summer 2021, there’s still a striking mismatch between supply and demand of properties, with housing stock at a particular low. As Halifax has noted, the ongoing supply-demand imbalance led property prices to rise year on year in June by 13% the highest since late 2004.
Although we wont see rapid rises or significant slumps in pricing in the remainder of 2022 we do see signs of a levelling off of housing prices. Given the Bank of England interest rate hikes, higher mortgage rates and the cost of living crisis impact on home buyers, house price growth looks to remain relatively static for the remainder of the year, with the cost of living crisis likely to impact the number of homes being sold. We expect slower growth but no significant fall over the medium or long term. Mortgage rates have been rising quickly in 2022 off the back of five increases to the Bank of England base rate. This summer’s further interest rate increase to 1.75% - the sharpest for more than a quarter of a century means mortgage lenders will once again increase their rates.
When interest rates change, it always creates a flurry of new applications, leading to a backlog that can take weeks to clear. We expect to see people who are looking to buy or those looking to re mortgage in the next four months try to secure a mortgage rate as soon as possible to avoid further rate increases this year.
Those not on fixed rate mortgages are expected to be hit hardest; traders are forecasting that interest rates will peak closer to 3% in the early part of 2023, implying at least two more 0.5% increases by the end of 2022.
Enhancing this further, the Bank of England’s decision to scrap the mortgage affordability test will help many people who were previously restricted on their lending and see more come to the market. However, this is unlikely to lead to a rush to market as mortgage borrowing will still be dictated to by the buyers deposit and a cap that lenders will have on a number of mortgages that they can lend above 4.5 x income.
If you are looking to buy soon and wish to register with us, we would be pleased to hear from you with your specific requirements. Telephone 01608 801030 or email robert@pritchardandcompany.co.uk in the first instance.
When selling our house we were very impressed with the professionalism shown by Robert and especially the speed in which our house was sold. Thanks again and we look forward to using you in the future, should we move on! 
Mr & Mrs W.
If you are looking to sell your home in the Cotswolds you should look no further than Robert Pritchard. Although he was acting for the vendor if it hadn’t been for his experience and skill our purchase wouldn’t have gone through. Thank you for delivering our home to us.
Mr & Mrs H.
Pritchard & Company produced an excellent result for us with the buyer exchanging contracts in a timely fashion. As I am based overseas I was especially reliant on an agent working in my best interests and able to go the extra mile. Very pleased.
Mrs P.
Many thanks for your friendly and professional help in selling our house recently, we had tried other agents over the course of a couple of years but without success. Your personal service and persistence took the sale to completion in record time – top marks!
Mr M.
Robert was highly effective in selling our cottage in the Cotswolds. It had failed to sell with another agent and he immediately realised that a new approach was required. The result was dramatic and resulted in a quick sale significantly above what the previous agent had estimated. We were, of course, very pleased. He was always very pleasant to deal with. On the basis of our experience I couldn’t recommend him more highly.
Mr P.
Robert has been steadfast in his support to us on the bumpy road to sale completion. Both buyers and sellers can be assured of a high level of service from the experienced team at his young Company to match the quality of the property offer.
Mr C.
Our house purchase has proceeded very smoothly and we thank you for the care and attention to detail which has attended us every step of the way.
Mr & Mrs B.
Pritchard & Company sold our cottage in Spring 2018. It was an unusual property and a lot of work was needed before anyone could move in. It had been on the market the previous autumn with a different agent but failed to sell. Robert Pritchard had a different approach and suggested we spent a little time and money on the cottage before putting it on the market. He arranged for this to be done by very capable people. The cottage and garden were transformed. The first couple to look round put in an offer, which we accepted. From start to finish we felt in confident, safe hands. I highly recommend Pritchard & Company.
Mrs RP.
May I take this opportunity to express my sincere thanks to you and your team for the excellent service and attention to detail that I received from my initial contact with Pritchard & Company to the successful and seamless completion of the sale of my property. I shall not hesitate to recommend your service to others seeking professional excellence coupled with a personal approach.
Mr S.
Over a number of years, Robert Pritchard has acted for myself and my family. Throughout all negotiations, he has always acted in a highly professional manner, but has gone way above and beyond what would normally be expected. He has offered help and support in all aspects of transactions. I have no hesitation in highly recommending Pritchard & Company.
Mrs W.
I must thank Pritchard & Company for being easy and professional to deal with, very efficient in responding to and assisting in enquiries throughout the process, making the purchase of my first home very straightforward.
Mr W.
It has been a pleasure having Pritchard & Company deal with the sale of my property. From their engagement to completion the whole process has moved forward seamlessly which I put down to Robert's professional hands on approach. The rapport he built up with the purchaser in dealing with his questions and anxieties meant the sale moved forward without a glitch. I can honestly say Robert took a great weight off my shoulders and made the whole process stress free … Thank you.
Mr W.
Thank you for working so hard on the sale of our cottage and bringing it over the line.
Mr L.
Pritchard & Company found a buyer for our house in four days at the end of January! Their advice and attention to detail is second to none. We highly recommend them to anyone wishing to sell their home. Huge thanks to Robert, Pip and the whole team, you've been fabulous.
Mrs Y.
Robert has managed our house sale from beginning to end in a professional manner. We were attracted by his modern approach to marketing our property and as we were often away from the property having the company manage the viewings was really helpful. We were kept up to date with the negotiations and queries relating to the sale. Robert was proactive in ensuring the conveyancing process was completed in a timely manner and we would highly recommend Pritchard & Company to others.
Mr & Mrs G.
I would like to take this opportunity to thank the staff of Pritchard & Company and Robert Pritchard in particular, for the excellent support they have been in the sale of my property. We would not have achieved the sale we wanted without his persistency and tenacity.
Mr M.
Pritchard & Company not only offered me excellent service in the sale of my Cotswold apartment, but were very effective in recommending and organising the right contacts to assist in minor repairs, removals and household clearance. The sale was also very swift and seamless. I cannot recommend Robert Pritchard and his company highly enough .
Mrs W.
Robert and his team at Pritchard & Company guided us through to a successful sale. They are friendly, approachable and extremely professional with an excellent local reputation. Their communication was excellent and continuous throughout our sale. We cannot recommend Pritchard & Company more highly - you can trust them to do their best by you.
Mr & Mrs K.
It has been a pleasure dealing with Pritchard & Company throughout the buying process and I will be recommending Robert and his team to anyone that ever crosses my path. Robert has been amazing, sensible, fair and acted with integrity.
Mr W.
I have to say that the service I received from Pritchard & Company was exceptional. Robert was always at the end of the telephone and was able to move things along by liaising with all parties and for that I am very grateful. I would definitely recommend Robert and the service Pritchard & Company provides.
Mrs W.
I want to thank Robert and the team at Pritchard & Company for all their efforts and support in selling our property. We have really appreciated Robert’s ability to help and advise on all aspects of marketing the property and for recommending tradesmen, gardeners and cleaners where needed. It has been clear throughout that nothing was too much trouble. Robert’s calm advice, wealth of experience and tact in dealing with negotiations has also been invaluable .
Mr & Mrs G.
We used Pritchard & Company to project manage a fairly extensive refurbishment of our apartment in a Listed mansion building. We were exceedingly happy with the way the project went, with Pritchard & Company's understanding of the intricacies of a Listed building and with their record keeping and update provision. They sourced suitable and skilled contractors, managed quotations and then kept control of the works and costs during the period of work. We would certainly recommend Pritchard and Company to anyone planning a similar refurbishment .
Mr & Mrs S.
The sale of our property was professionally and expertly handled by Pritchard & Company and Robert in particular paid close attention to all details to ensure that the purchaser and ourselves were kept up to date every step of the way, in fact Robert definitely went the extra mile. We decided to use Pritchard & Company after both a local and national estate agent had failed to generate any interest or viewings of our property. We would have no hesitation in recommending Pritchard & Company to sell any property, large or small.
Mr & Mrs G.
Over the last ten years Robert Pritchard has successfully sold a number of properties for us. He is professional, honest and very easy to deal with. He has a straightforward, refreshing manner and above all else, really understands the job.
Mr & Mrs W.
A big thank you to Robert for all his help and support with our property purchase. We are convinced without his involvement this purchase would not have happened. It is even more remarkable considering he was the selling agent and we were the purchaser. He truly went above and beyond for his client but also worked with us as the purchaser on helping to move the chain along which he achieved with good grace and perfect customer relation skills. We would have no hesitation in using Pritchard & Company in any future sale of a property and also to recommend them to anyone else looking to buy or sell a property in this area.
Mr & Mrs W.
I would like to thank Robert for his invaluable help with the successful sale of my house, which was not a straightforward sale. I will definitely be using Pritchard & Company if I need to sell another property.
Mr G.
A huge thank you to Robert for getting us over the line with the sale of our commercial property. It has been the hardest sale we have ever been through and Robert’s work has been very much appreciated. He kept both buyers and sellers calm in a tricky situation and did so with great aplomb.
Mr & Mrs A.
“I am very grateful to Robert for his great help in successfully selling the red brick barns at my farm in Worcestershire, in addition to selling the farmhouse. I would definitely recommend Pritchard & Company for the sale of a property.”
Mr G.
Pritchard & Company are a great team to work with and kept me up to speed from start to finish. Robert is exceptionally knowledgeable about achievable sale prices throughout the Cotswold villages and beyond and he was very helpful with my purchaser. Strongly recommended.
Mr C.
We wish to express our appreciation to Robert for his professional help throughout the sale of our property. We have received first class service and patience. We have no hesitation in recommending Pritchard & Company to future clients.
Mr & Mrs C.
We would like to take this opportunity following the successful sale of our barn conversion to express our thanks for the excellent service provided by Pritchard & Company during the very difficult lockdown period. Throughout the whole process Robert acted in a professional and supportive manner which helped us enormously through a stressful period. We have no hesitation in recommending Pritchard & Company to others.
Mr & Mrs C.
Having used Pritchard & Company for the second time we were just as pleased this time around. Your service and attention to detail is fantastic and your knowledge of the market and sound advice meant we went from offer to exchange of contracts in just 8 weeks. I would gladly recommend you to anyone looking to sell or buy a house and would be very happy to give you our business again. Thank you Robert
Mr & Mrs W.
Robert was recommended to us by a family friend, Robert had sold several properties for her very successfully and we arranged for Robert to come and see us and view our property.We could instantly tell that Robert was very genuine, he was easy to talk to and clearly knew his stuff, we felt that Robert offered us the personal touch that we wanted, calls were returned, emails answered and Robert always arrived early to do the show rounds so we could disappear and let him work his magic.Robert found us the perfect family to take on our lovely home and helped us along with the sale process, holding our hand through all the tricky parts !We are very grateful to Robert for his help and we would happily recommend him to anyone who wants the personal touch and a knowledgeable, responsive agent.
Mr & Mrs G
Just a note to say a huge thank you for your exceedingly efficient and professional approach to the sale of both Winstitchen and Wilsham Farms. Although not local to yourself, it made no difference to the sale process, and we achieved a sale price for both properties in excess of expectation. Your vigilance in approach to potential purchasers, and attention to detail was impressive and I’m sure directly contributed to the conclusion of both sales. Once again a massive thank you to you and all your team.
Mrs O.
I cannot thank Robert and his team enough for their involvement in our recent purchase. It was a relatively complex transaction not helped that it was conducted largely through lockdown but Roberts calm manner and professionalism saw everything through to completion in the agreed timescales. He is extremely personable and easy to contact and deals with requests and issues in a timely fashion.
Thank you for such a great service.
Mr S.
The team at Pritchard & Company are an absolute joy to work with. They are extremely knowledgeable and able to offer expert advice at every stage of the process. Particularly impressive was the effort that was made after we'd accepted an offer on our house. Robert kept in regular contact with our buyers to make sure everything progressed smoothly and efficiently. They really do go above and beyond and are by far the best agents in the area.
Ms W.
Would highly recommend. Robert and his team went above and beyond with both our sale and purchase. Buying and selling a house is one of the most stressful things we have ever been through, and we're really not sure how we would have managed without Robert, Michelle and the rest of the company.
Mr J.
A hugely professional, helpful and efficient company. Robert and team managed both our sale and purchase brilliantly, going above and beyond in all stages and keeping us well informed throughout. Thoroughly recommend!
Ms Q.
Wishing to sell your property - You couldn’t do better than use Robert Pritchard & Company. Throughout the whole stressful business Robert and his team were professional, courteous, kind and very easy to contact and talk things through with, often following up on queries not necessarily in their remit. I would highly recommend Robert Pritchard & Company.
Mrs F.
Thanks again for all your assistance throughout the purchase. We will be sure to come to you if and when we ever have a property to market!
Mr C.
Whatever property service you are looking for, Robert and his team have the answer! However, what sets Pritchard & Company apart is not just the quality of the advice and service on offer, which is consistently excellent, but the absolute assurance that their approach is genuinely client first. We would recommend Pritchard & Company unreservedly.
Mr & Mrs B.
I would like to thank Robert and Michelle for their hard work, perseverance and skill in navigating the sale of my flat through to completion. It was a year and three buyers before we got to the finish line but as one buyer dropped out, Robert had another ready to move. The frustrating and complicated nature of the sale did not dampen energy or the thorough and timely communication I received. Many thanks both and I am very happy to recommend Prichard & Company.
Mrs M.
Robert Pritchard has acted for me for nearly 20 years, helping me in valuing, buying and selling property. He has always acted in a highly professional manner but goes one step further with his help and support. He recently sold my last home and with his experience and his excellent team the sale went through stress free. I couldn’t recommend him more highly. Thank you.
Mrs H.
We used Robert to sell a piece of land we owned. He was extremely helpful and professional. When the sale was delayed by the solicitors, Robert followed up on a daily basis to speed up the sale and try to resolve any problems. We cannot fault the service he offered and without doubt use his expertise if we sell again. We would highly recommend using him to anyone and would like to thank him for all his hard work and persistence.
Mr & Mrs C.
Robert really helped me in the purchase of my new house. Having visited the property, Robert provided me with the price range I should aim for. Once my offer was accepted – which was lower than the asking price – Robert offered to deal with the estate agent on my behalf. Most importantly, I felt Robert was only ever a telephone call away, to answer any questions and calm any nerves. Robert took the stress out of my purchase, and I would highly recommend him if you are looking to buy your next property for the right price.
Mr R-P.
