The best time to sell your home is 2nd September, online estate agent eMoov.co.uk states in a new study, having consider influential factors such as buyer activity, time of year, length of the sale period and even the weather.
The combination of these factors provides a good market environment to sell a property fast and at a good price.
eMoov explains:
Google search trends highlight from the start of November until the end of the year, traffic levels to the major property websites Rightmove and Zoopla can decline by as much as 30 per cent. With the average selling time in the UK taking 65 days according to Rightmove, or 55 days on average with eMoov, listing at the start of September gives you a two month window in which to sell before buyer activity begins to decline.
The speed of sale is also aided by the approaching festive season, there was 1.2 million property transactions in 2014 with 12 per cent of these occurring in December. Both buyers and sellers in the UK see Christmas as a pivotal point in the property process, with it often being the bench marker for selling or sitting tight for another year. Research by eMoov found 12 per cent of the nation believe Christmas aids a sale, as people are determined to be moved in time for Christmas and so the process is accelerated by more pro-active buyers.
Another driving factor is children and more importantly their schooling. With many schools closing their doors for admission by the start of February, securing that all important property in the catchment area you are after early, vastly improves your chances of getting the school you want.
The final factor is the weather. eMoov indicates that 43% of people believe selling their home in the summer aids the process, whilst 17 per cent agree it is more difficult to sell during the winter months. However with many taking to warmer climates or having their hands full with the kids during the prime summer months, September offers the best opportunity while the weather is still nice enough to ensure those pictures on your property listing show your house in the best light.
“Listing your property for sale on the 2nd September is certainly going to aid the sale of your home. September is the second busiest month for buyer activity on Rightmove and Zoopla. Although January tops the table in terms of traffic levels, it’s also one of the peak months for those listing their property so competition is fierce. Those looking to sell, are for the large part, in no real rush as they have the whole year in which to do so and aren’t bound by time lines such as school deadlines. Add to this the British weather in January and it can makes for a dreary time to show buyers your home.
“Selling in September could also result in a higher price achieved. Our latest Property Hotspots Index shows that demand for property across the nation has risen by 9% since the start of the year. It’s when demand starts to outstrip supply that we see house prices start to climb,” Russell Quirk, founder and CEO of eMoov, said
