Wider mix now of buyers includes housing bodies and local authorities

Housing and mortgage demand look to remain strong in the year ahead despite the challenging economic environment

Concerns for future supply in 2023 are already being raised, with evidence of immediate supply waning.

A property market needs buyers across a wide spectrum, be they first-time buyers (FTBs), traders-up, traders-down or ‘right-sizers,’ investors for the rental market, be private/small time operators or large funds, and, increasingly important, local authorities and approved housing bodies to ensure as wide an accommodation to national housing needs as possible.

Provision of social housing is - at last - heading back to the sort of figures prevalent in the 1970s when the National Building Agency (NBA) was active: Government targets under the 2021-2030 Housing for All plan were for up to 9,000 social homes per annum; last year, they fell short, at 6,500 to 7,000 units but the evidence on the ground is that the pace of roll-out is heading the right direction for those not in a position to buy and to own tier homes privately.