With the record sales of housing in 2021 continuing on a path into 2022, and demand still outweighing supply as it currently stands, there are still people who not only are holding out on their decision to buy property in Stockport but also those holding out on movements towards selling a property, and wondering when is the best time to sell a house.
There may be many reasons behind some people’s hesitation to either getting on the property ladder or keeping their home off the market at this time or at least some key concerns that may not be being addressed to satisfy the movement of action.
The typical calendar year follows a predictable cycle where the average house price in the Autumn months – September, October and November – would usually sit at around £240k. Always a busy time of the year, this goes a long way to explain why prices and demand hold steady whilst Christmas plans begin to come into play and the last grasp at a sunny getaway start to take priorities.
The Winter months – December, January and February – sees the average house price climb even further, typically to around £243k. Whilst some feel the colder period combined with the holiday season is not ideal for moving, those looking to sell find a slight increase in price looking to sell. Although those looking to sell could be looking at the windfall of selling their homes in the Spring months – March, April and May – when prices hit an average high of £245k and people are generally more motivated to begin the purchases before the summer rushes take effect.
As the summer rolls around, there is typically a decline in interest in sales due to the average price of around £237k and people are more interested in spending on lavish getaways than securing a house.
The Time Being Right
Many people are unsure due to the instability they feel in the UK right now, especially when it comes to employment, Covid variants and the sudden switching and uncertainty regarding the UK landscape.
Many people choose to sit it out and feel a sense of risk aversion, unsure if the sale of a house will fall through or a mortgage will be denied due to factors over the last year affecting earnings and eligibility. Many people do not want to face a reality that they may not be able to join the many currently taking full advantage of the UK market for housing opportunities, or suddenly not get a sale on a house for a price they want.
At this moment in time, there is no better time than to get things moving, and with the right personalised guidance and approach from independent estate agents Stockport, you can be sure that the results have a more sensitive approach to your concerns.