IF YOU’RE thinking about selling your home it’s important to know the best time of year to put it on the market.
The pandemic has shaken up the UK property market and changed the usual seasonal trends.
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Property expert Grainne Gilmore shared her top tips for households thinking about selling up.
It’s a sellers market at the moment, with fewer houses on offer than usual but buyers are still searching.
That’s pushed prices up to record highs.
According to the latest research by Rightmove, the average price of property coming to market hit £354,564 last month.
Property prices jumped by £5,760, breaking through the £350,000 barrier for the first time.
Here’s the best time to sell your home.
When is the best time to sell your home?
Spring is usually a busy time to sell – which can have positives and negatives.
There will be more buyers on the look out for a property but you’ll also be up against tough competition.
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But if you’re looking to sell up this year, you could be in luck.
Covid sparked a flurry of house moves as families decided they needed more space or could be further away from city centres due to working from home.
But there are now fewer houses on the market than there usually would be at this time of year due to the property market boom during the pandemic.
People are still looking to buy, though, meaning homes are in demand and you could get a higher price for your property.
Grainne, who is head of research at property platform Zoopla, said: “Homemovers put their homes up for sale all year round, but in typical years, there is a rise in sellers listing their home for sale around the busy spring period.
“At the moment, after such a busy few years, the number of homes available to buy is low – and there are lots of people looking to buy, making this a very good time for sellers”.
She added: “Those looking to sell could be in pole position now.”
Three-bed houses are the most in demand as families are seeking more space.
“These family homes are always popular, but the pandemic has made them even more so, with buyers looking for extra indoor and outdoor space,” Grainne said.
“Since the ending of Covid restrictions however, there has also been a bounce back in demand for city flats.”
What if I’m looking to buy?
It’s currently a tougher market for buyers, but winter is usually a quieter time when you’ll be up against fewer competing house hunters.
If you’re hoping to get on the property ladder, or take your next step up, there are things you can do to prepare.
Grainne recommended getting your mortgage finance sorted ahead of time and contacting local agents.
This will “ensure you can be first off the mark when properties that match your search come up for sale,” she said.
First-time buyers could also have an advantage as they can move fast.
“As a first-time buyer, with no ‘chain’ – ie not having to sell a home before you can move – first-time buyers could be at an advantage in this busy market,” Grainne said.
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