An interesting article taken from of all places the Daily Mail. However it is a suprisingly accurate assessment of the market this year. Ironically November was our busiest sales month of the year with 75% of the properties listed during October finding buyers by the end of the month.
As Christmas approaches, spending time with family, sharing presents and gorging on food is top of our minds. The state of the property market and whether it’s a good time to sell your home? Perhaps less so.
But you could be missing a trick – Boxing Day onwards sees a rush of house hunting activity as buyers compete to snap up the best properties before they’re gone. Last year, visits to Rightmove more than doubled between Christmas Day and 2 January.
Listing your home over the festive period ensures it will be on the market to coincide with this spike in demand, when it is more likely to attract a higher price.
But what about the elephant in the room, Brexit and the upcoming general election? This political uncertainty has persuaded some sellers to delay moving, as they wait to see how both events will unfold. This spike in buyer demand, paired with a lack of housing supply because of political uncertainty, presents a major opportunity for homeowners looking to sell.
With buyer demand peaking, and low supply due to sellers holding off due to concerns about the general election and Brexit, coming to us now is a great opportunity to get the very best price for your property.’
Homeowners often wait until spring to put their homes on the market, but this could see you missing out on this boom in demand – and losing potential buyers.
Statistics show 32% of the properties listed in December were taken off Rightmove the next month, suggesting they had already sold, compared to only 24% that were put on the market in January.
People are always told to enter the property fray in the spring due to improved kerb appeal, better weather and recent spring cleans meaning properties arguably look their best. The reality, however, is that the market is oversaturated during this period. There are simply too many properties on the market, meaning buyers are overwhelmed by choice.
While sellers often put off listing properties in December, there is no sign house hunters have been delaying.
A survey revealed that while 33.5% of those looking to buy property over the next five years browse options online during their weekends, this figure rises to 60% during the Christmas holidays.
‘With an influx of buyers actively seeking properties but stock levels low, Christmas is the perfect time to get your house on the market to bring in viewings and competitive offers.’
Even with these obvious benefits, many people are being put off selling their home by the uncertain and rapidly changing political environment.
There has been a 15% fall in the number of properties being put up for sale from 1-15 November compared to last year, as sellers stall in the face of the twin challenges of the general election and Brexit extension until January 31 2020.