Conventional wisdom suggests that spring is the busiest time of the year for the housing market. I am also sure that for many people, moving house is the last thing on their mind at this time of year. But when really is the best time to sell? Here are five reasons why selling now or at least soft launching your property for a big push in the New Year could prove a masterstroke for savvy sellers!
There is traditionally less property available on the market at this time of year. As we head into 2018 the shortage of new stock has never been more acute. Therefore it stands to reason with less competition, properties coming to the market now have a better chance of selling and at a higher price! Wait until the spring and there might suddenly be three or four very similar properties to your own come available, which can make it much harder to stand out and achieve a premium price. It can also be an advantage if the property you are selling is not situated in what might be classed as a prime location. It becomes very much a case of Hobson’s choice! We have recently sold a couple of properties that in the past would not have been the easiest to sell, yet the interest has been very high and has resulted in the properties selling for over the initial asking price!
This also puts you in pole position to be first in line when properties start coming to the market which might be of interest to you! By already having a buyer in place, you become a much more attractive proposition to the seller and selling agent.
Quality not quantity
People are more mobile than they ever were and now move all year round. There is much less seasonal fluctuation in buyer activity. Many people take up new job positions in January. Similarly, buyers looking at this time of year are likely to be deadly serious, the speculative browser has other priorities at this time of year, so even if the numbers are slightly less the quality can be far higher.
Highest number of people will see your property online
Figures published by the major property portals such as Rightmove and Zoopla confirm a huge spike in activity over the Christmas break and the days between Boxing Day and New Years Day see the most traffic in any single day throughout the year, ensuring the greatest exposure for your property. This is also the time most people have together to discuss such important things as planning a move!
Create the right ambience
There is a certain feel-good factor surrounding Christmas for many people and viewing a home that is beautifully decked out for Christmas can have a very positive effect on buyers who might be envisaging themselves enjoying the following Christmas in your property! A precautionary word here – go easy on the mulled wine and cheesy Christmas tunes or the buyer might be looking for a sharp exit!
Market uncertainty will continue into 2018
Many house market experts are predicting a further slowing down of the market in 2018 as Brexit uncertainty continues to rumble on, the supply of properties continues to shrink and further government tax implications kick in. Even without a crystal ball and the early Christmas present from the Chancellor scrapping Stamp Duty for first-time buyers up to £300,000, it makes sense to bring any moving plans forward.
At Maurice Kilbride, we run a seasonal “Do not disturb” campaign over Christmas itself, which means we get everything done and ready for a full launch after the festivities and won’t carry out any viewings until after the 3rd January 2018. We just deal with any enquiries, taking names and numbers and will contact them in the New Year to let them know when they can view and put you ahead of the game! For more information please contact us on 0161 428 3663 or visit our website www.mkiea.co.uk for more information.