New report reveals surge in cash house sales in 2021 – and experts say it will continue into 2022.

MORE than two third of professional cash house buyers saw business surge last year as Covid led to a surge in the number of people looking for a speedy property move.

Seventy percent of businesses recorded a growth in sales, according to an annual report by the National Association of Property Buyers (NAPB). Twenty per cent said business was about the same and only 10% said business levels had decreased slightly.

The NAPB said its members bought an average 59 properties in 2021 compared to 51 in 2021 and that this has created a cash-buying house-market now worth £500m a year.

And 80% of the companies operating in this booming property space expect their business to rise even more in 2022.

The NAPB report highlighted a number of reasons why people were choosing to sell their homes this way.

Around 40% of sellers didn’t want viewings, while 20% opted for this method because they owned a property in disrepair. Other reasons stated by sellers included that they had a short lease, structural problems or a cladding issue.

The NAPB poll also asked members about their thoughts for the property market in 2022. A large majority of them – 90% – said they felt optimistic about the market this year.

On property prices, NAPB members felt they would continue to rise. The consensus was that house prices would increase around 3% nationally, but that northern homeowners would benefit from a 6% rise in house prices.

Jonathan Rolande of the NAPB said: “After one of the busiest years on record members are already reporting increased levels of enquiries so far this year. This rise comes despite the apparent ease with which people can sell a property using ‘traditional methods’ like auctions or estate agents. The increase is likely linked to the fact that the cost of owning an unwanted property these days is higher than ever. Council Tax, insurance, maintenance and utilities have all shot up and many more people are looking for a quick, easy and, above all, a certain way of selling to eliminate these costs as quickly as they can.

“Cash buying services are becoming an established and very important part of the housing market. While that’s good for our members of course it’s even better news for the selling public. It shows that house owners have an easy way to sell their house quickly for cash, particularly if they decide that the conventional agency route isn’t for them.

“There’s every reason to be optimistic about the property market in 2022 and we look forward to our members being able to help many more house sellers sell their property quickly for cash throughout the coming year.”