Do properties sell over the Autumn and Winter?
In short... yes! And often better than in the Spring and Summer.
Mount & Minster have crunched the numbers and looked at the seasonal impact on property transactions and the associated sold prices.
According to the figures in the East Midlands where the firm operates, last year the company's average price for property transactions was at its highest during the latter quarter of 2018 at £365,546, up from the spring average of £320,366.
Why was this?
Simple... Brexit! Essentially, the lack of confidence in the market meant that homebuyers (and to a certain degree home sellers) held off from committing to making offers or even putting their properties on the market. This meant that the amount of properties available (supply) was low. Although demand was similarly low, someone selling their home doesn't require multiple buyers. Instead, these active buyers had very little stock to choose from, essentially meaning vendors had little competition and their homes not only sold, but they sold well.
The market has hardly changed and 2019 is seeing the same strong demand from buyers, many relocating from down south. As we enter the Autumn months, those sensibly priced properties marketed over the summer across the East Midlands have now sold. Therefore, anyone marketing their property over the next few weeks will have very little competition from other properties and the fact that those that are left over from the past few months are likely to be overpriced (hence the reason they haven't sold), vendors coming onto the market now will have the added advantage of their property looking good value, if not warranting a slight premium on the guide price.
However, the leaves are falling and gardens are changing. If you're thinking of selling, act now and get your agent to take the photographs quickly, even if the plan is to wait a few more weeks or into the new year to go live with your home. We often prepare months in advance and keep the photos on our file for later.