Around two thirds of property professionals would say they are confident about their business prospects over the next year, new research has indicated.

A webinar poll undertaken by Countrywide Surveying Services (CSS) among over lenders, brokers, surveyors and other property professionals revealed that 64% of respondents are “somewhat” or “very” confident about the next 12 months.

The responses emerged at CSS’s regular webinar series which used the halfway point of 2022 to reflect on the first six months of the year and assess current market conditions and to discuss the future. 

Further polls were taken during the session and found that around half (49%) of the audience expect the property market to remain static, with 32% expecting activity to fall, and 19% suggesting that it will rise.

Attendees were also asked which part of the market they see as being most negatively impacted over the next 12 months. Responses were largely split with 40% pointing to the buy-to-let market as being most likely to be negatively impacted, while 27% chose the owner occupier market. A third (33%) said that they are likely to be impacted equally.

When it came to the biggest drivers impacting the market, one in every two respondents (50%) said that the rising cost of living would be the biggest driver.

“There’s no getting away from the fact that lingering economic uncertainty, rising interest rates and escalating living costs are impacting the housing and mortgage market,” commented CSS director of technical, risk and compliance, John Baguley.

“Inevitably, these are resulting in varying degrees of concern for borrowers and property professionals across the board but, as reflected in these results, there remains plenty of positivity and confidence throughout the industry thanks to a highly robust housing market and a competitive lending marketplace. 

“The next 12 months are likely to generate a number of challenges for a variety of businesses. However, opportunities will also emerge as a lack of housing stock and strong buyer demand will continue to generate activity across the purchase market.

“In addition, the remortgage sector will remain buoyant as a growing number of homeowners are locking into longer-term fixed rates to secure their outgoings in a turbulent rate environment. A combination which will certainly keep the intermediary market moving at pace in the coming months.”

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