It may be Christmas, but property experts are predicting a seasonal rush in property sale completions from people keen to move into their new home before the festivities.
Analysis by online estate agent, Housesimple, reveals October is the peak time of year for completions, with an average of 81,974 home sales being tied up in this month.
But this peak continues to stand strong throughout November and December, according to typical figures over the past five years, with the numbers of completions averaging at 79,266 and 79,873 respectively.
The estate agent, which looked at Land Registry home sale completion figures to investigate trends, noticed a distinct end-of-year uplift in home sales being concluded, something it attributes to people wanting to get moved in before Christmas.
Indeed, although March sees a spike in completions – something known as the ‘spring bounce’ – January, February and April are distinct low points for sales being tied up.
Sam Mitchell, CEO at Housesimple, said: “There is no denying that timing plays a key role in selling a home and an uplift towards the end of the year is a clear sign of people looking to complete on their property before Christmas comes and a New Year begins.
“Expect to see a sudden rush in social media posts over the next couple of weeks as lots of people share photos of their new homes and the ‘key in the front door’ shot, moving in with just enough time to get the decorations up for Christmas.”
Housesimple’s research also revealed the months of July and August, which have always been perceived as slow months for house sales, were actually among the second-best period for total number of completions. May and June, the analysis revealed, started showing signs of rising activity leading to the summer boom.
[box style=”4″]
Tips for a speedy completion
Struggling to reach a completion? Housesimple has some tips to help you speed up the process:
Be as responsive as possible
The key to moving the transaction along as quickly as possible is for all parties to respond to requests for information or action right away – including you.
If you are going to be away in December make sure you keep an eye on emails. If you are in a chain, it is important to understand the dependencies and keep talking to your buyer or seller and their agent regularly.
Have your estate agent on speed dial
Your estate agent will play a big role so make sure you don’t rush the process of picking one – choosing the right one can be a very personal thing.
While a good estate agent will come to you with regular updates, stay in constant communication with them and be sure to ask who to follow up with if they are going to be off for Christmas.
Using an online agent means you’ll have access to online support throughout the festive period and it can also help to make the entire process more streamlined.
Get your paperwork ready
Make sure you’re on top of your personal admin by sitting down and organising your paperwork before Christmas comes around.
There may be occasions where you will need to have documents to hand, so avoid a last-minute flurry by being prepared with a folder that has all your mortgage documents from your solicitor as well as other important files like your energy performance certificate, planning permission documents, gas safety inspection certifications and proof of boiler servicing certificate.
[/box]
