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Residential

Why sellers shouldn’t wait until spring 301115

Q4 2015

In a typical year, at the beginning of November, many homeowners often decide to take their house off the market until the spring as a method to keep the property looking fresh. But this has not been a typical year.

In a typical year, at the beginning of November, many homeowners often decide to take their house off the market until the spring as a method to keep the property looking fresh. But this has not been a typical year.

The run up to the General Election stifled the housing market for longer than expected, and despite optimism for an autumn bounce, economic factors throughout the year such as the impact of the Stamp Duty and Mortgage Reviews, have kept transaction and price levels modest.

But look beneath the surface and there have been some signs of life returning. National Estate agent Strutt & Parker has reported an unusually high large number of buyers registering with them, with the quantity of viewings higher expected for the time of year. They report that property at all price levels is going under offer – clear evidence that quality buyers are out there and that they want to buy.

Edward Church, Partner at Strutt & Parker in Canterbury says: “Decisions about when and how to market your home are best taken in light of the facts on the ground. The idea of a seasonal market place has dissipated. This year the market has been affected by politics more than any other external factor, bearing little resemblance to the traditional ‘norms’.”

“During October we agreed more sales than in any of the previous six months. The quality of buyers is good, and we are talking to them in steadily increasing numbers. Buyers have put off their buying decisions, often for several months and in many cases for a year or more. But ultimately, they still do want to buy. And they will buy. It is our role as agents to encourage that buying process.”

So, how to act now that the clocks have gone back and the dark evenings are back? Church suggests rather than leaving the house ‘in the bottom drawer’ for a few months, keep your property active, online and open to viewings and offers. 

“This course of action will suit many people, in most circumstances, but not others,” Church explains. “If you consider yourself a committed seller, then work with the market and your agent.”

For those staying on the market, they will also catch the usual peak in property portal visits between Christmas Eve and New Year’s Day. Highest ever Rightmove page views were recorded last year during Christmas and web traffic in January was at an overall high.

Church continues: “Looking back to the winter of 2002 when we scarcely sold a house during the autumn as the whole country was under several feet of water, it was the week before Christmas that saw us agree the sale of more houses than in any other week. There is every reason to think that the next two months will result in good sales. The market waits for no man - don’t miss it.”