Several factors combine to dictate the health of the property market. But one issue that many sellers forget about is the seasonal nature of the housing sector.
The UK property market experiences periods of high and low activity. The good news is that there’s a pattern involved. By delaying or bringing forward your house sale, you might be able to sell the property fast and for a premium.
But what’s the best time of year to sell a house in the UK? While there are always exceptions to every rule, the facts are pretty clear.
The summer is a relatively slow time for the property market
We all have different priorities in our lives. But there are times of the year when we’re more distracted than usual. Take the summer months of July and August, for example. This is when a lot of people go on holiday or spend lots of time with family.
As well as being distracted, people tend to be a little short on cash at this time of year. Why? Because they’re spending a greater proportion of their income on leisure activities. Saving for a deposit or all the various costs of house selling is rarely a priority.
Another reason for the house sale slump during the summer months is the school holiday. Children are at home for anything between five and eight weeks at this time of year. This means parents are too busy supervising their kids and keeping them occupied to worry about buying a new home.
The Christmas period is also a slow month for the property market
From around the middle of November, a huge number of homeowners in the UK start planning their Christmas. This takes the focus away from buying property. And it changes people’s spending priorities. Let’s face it: would you want to move into a new house just a week or two before Christmas?
And don’t expect things to pick up immediately after New Year. Buyers are counting the cost of the festive period. They’re hunkering down in their existing homes, waiting for spring. All in all, the Christmas period and the first six weeks or so of the new year aren’t great times to sell a house fast.
But there is an upside to selling during the winter months. Homes are usually at their cosiest and most homely when they’re lit up and warm. You can create a refuge from the winter winds that might prove very appealing at this time of year.
What is the best time of year for a fast house sale?
A good time of year for selling houses is autumn. Summer holidays and leisure activities are finished, and children are back to school. With Christmas still some way off, people have space (and money) in their lives for buying a new home.
But the best time of year to list a house for sale in the UK is early spring. Why? Because people are planning new beginnings. The kids are in school, the days are getting longer, the temperatures are rising, and Christmas is a distant memory. Also, a lot of buyers want to be in their new home well in advance of summer.
Of course, there’s little evidence to suggest homes are worth more in the spring than they are in the winter. However, there are times of the year when buyers are more numerous. And when that’s the case, you can engineer bidding contests to drive up the sale price.
Unfortunately, we can’t always sell our home at the best time of the year. If you need a quick house sale now, SellPropertyFastCash can help. We buy homes directly from owners throughout the UK, and we take care of all the legal stuff on your behalf. You get to sidestep the marketing and negotiating stages of the process — saving you time, fees and a great deal of stress.