We often hear the question asked ‘when is the best time to sell my home?’
Well, the obvious answer is to sell at the top of the market. However, in practice, this is next to impossible to predict and can come with many other factors to consider.
The most popular time to sell a property tends to have always been in mid-spring or early autumn where the appetite for buying is traditionally at its largest, while August and Christmas have proven the quietest time on the market. A lot of experts will agree that particular times of year can prove more fruitful, however, this is not always the case, with activity on the national and local markets also playing a large role in when to put your house up for sale.
In general, the buying/selling process averages at 13-weeks from offer to acceptance to completion. You’re best to market your property in the spring with the better weather providing a good opportunity to showcase your home with a blooming garden and blue skies. Equally, families with children will usually want to move into a new property before the children return to school in the Autumn.
For smaller properties and buyers without children, the above rule still applies but the range is slightly larger. A lot of buyers will go into a New Year with a ‘fresh start’ mentality and plans to start looking earlier and move in over the summer, or after the summer to be in before Christmas.
The 2019 property market is dominated by discussion surrounding Brexit and the uncertainty that comes with it. The unpredictable market has also caused many homeowners to become cautious with buying and selling until a more structured outlook of the UK markets has become clear.
>Read here what our Head of Specialist Lending, Chris Whitney, predicts for the market in 2019.
As widely reported in the press, demand for housing continues to outstrip supply. That, coupled with the potential for interest rates to rise following our departure from the EU at the end of March 2019, offers vendors a strong pool of willing and able buyers who will act when they see the right property.
For those pondering selling their property, our message would be to take advantage of a vibrant market sooner rather than later.