There are many different opinions on when the best time of the year is to buy or sell a property. You might assume that most would want to make the move in the summer, when the weather is good and routines are more relaxed as the kids are off school. Spring and summer seem like great time to list your property as there’s plenty of good light and the better weather and light nights mean people have more time to visit properties.
However – what about the other months of the year and the opportunities they provide? Director of Estate Agency at Bradley Hall Chartered Surveyors and Estate Agents, Matt Hoy, explores the seasonality of the residential property market and how you could benefit from selling your home at any time of the year.
Spring
The majority of March, April and May are an incredibly popular time of year to sell as properties tend to look their best.
Plenty of good weather, natural light and warmer climates make for great photographs and viewing opportunities.
At this point in the year, the market is full of actively looking and proactive buyers. This can prove to be beneficial however sellers at this point are in a market with plenty of demand but also a lot of supply. This is a competitive market which may impact on pricing and negotiations.
Despite the activity throughout spring, the Easter holidays can be challenging if buyers and sellers go on holiday.
Summer
Market activity at this time of year is often varied. For families, August can be a quiet month, again due to holidays. On average, a property sells in around 14 weeks, so even if you do suffer from buyers being on holiday your property will still appear fresh when people get back into their routines come September.
It’s important during this season to stay up to date with competition as this is when the properties which weren’t sold during spring will reduce asking prices.
Autumn
The reliable season. The hustle and bustle of the summer is over, people are now looking to move before the end of the year, so the market is motivated. There are marginally less properties up for sale in comparison to spring however there is a more dedicated approach. September and October are good months for activity with buyers finding new homes they can move into by Christmas.
Winter
An ideal time to beat the springtime rush and have everything in order to market your property as soon as the new year hits. Rightmove often cites the time from Christmas into the New Year as one of the most popular time for property searches – with millions of people scrolling through what’s available ahead of their plans for the start of the year.
December is the perfect time to have a valuation and start considering your options ahead of the New Year rush, with many sellers postponing their launch to market until Boxing Day to benefit from the increased traffic, with buyers in a ‘new year, new home’ mentality.
Choosing the right time
Regardless of the seasonality of the property market, it’s important to move at the right time for you. Your financial situation and personal requirements will more likely dictate when is the best time to make the big move. Whether your moving for work, your family is expanding or you are buying your first property, it is important to step onto the market with the correct advice and guidance.
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