People look to buy houses all year round. Despite this, there are natural peaks and troughs throughout the year. House sales can also depend on economic and social factors that are out of your control. Breaking down sale patterns can help you to decide on the time frame of your selling and buying process.
Busy Periods
The New Year
The New Year is a good time to put your house on the market. Many potential buyers are inspired by the New Year and start to look for a fresh start. Additionally, first-time buyers, particularly young couples, are often encouraged to start looking for properties in January.
People often put their life on hold during the festive season; as it comes to an end, they will resume their usual activities, including searching for a new home.
Spring and Summer
Spring and summer are much busier periods for buying houses, with May, June and July being the most popular. House viewings are considered to be nicer in the spring and summer; you can see the natural light of the property, and any garden areas are in full bloom, making the property much more appealing. For families with children, it may be important to buy a new home and settle in before the new school year starts. Additionally, buying a house in the spring and summer often ensures a move-in date before the Christmas period starts – a desirable trait for many buyers.
Quiet Periods
Autumn and Early Winter
The demand for properties starts to decline from around September. With shorter days that are frequently cold and dark, it makes for an unpleasant house viewing experience and moving process. If buyers have children, moving during the start of the academic year is unfavourable.
Furthermore, the closer to Christmas we get, the fewer people are on the hunt for a new home. The festive period is very busy, and moving house often gets put at the bottom of the list. Additionally, Christmas time sees a shift in available business hours; solicitors, mortgage companies and estate agents may be difficult to contact during this time, making the process inconvenient and slow.
If you are looking to sell your house during a recession, cost-of-living crisis, or another negative economic occurrence, it might be worth delaying the process until the demand for properties increases. However, early 2023 is a good time to get high offers on your property, before housing prices fall.
Everything you Need to Know about Property Valuations can give you further advice and guidelines if you are looking to sell your property.
