People want and need to move for various reason – new jobs, new babies, you name it! There are plenty of reasons. But with the doom and gloom that has descended over the property market for the past 6-12 months (Don’t say the B word), there have been plenty of vendors who have decided to not list your property. Could now be the time it all changes? Maybe not, but it should!
On average, over the last five years (2014-2018), if you list your property during the period between June and August accounted for more completed sales than in any other period across the year. Around 30% more sales occurred in these months than in the first three months of the year (2016 was excluded from this analysis due to unusual activity in March due to introduction of additional SDLT (Stamp Duty Surcharges) for second home buyers and investors).
Look at the Stats
Looking at these numbers, on average around 250,000 homes sold each year in England and Wales. Logic therefore dictates that, if we assume an 8-10 week scenario, that if you list your property NOW will be the properties completing within this unique period!
Looking at the data further, let’s go back to last year (2018) and see how the transactions by month were affected by this stat.
We can see the number of transactions took a dip from May to June indicating a slow down but there was a rocket into July! While August sees a slow down, the three months in question (June, July and August) contribute more sales than the FOUR previous months before that!
Going back to 2017, we can see this again more clearly.
Witham’s Improving Performance
It’s also an important point to make that this is on the back of negative growth in terms on transactions within the local market here in Witham. Going back to January 2017, we can see how Witham has fared in terms of transactions and how, in fact, Witham has started to improve while the regional average has not done so well.
If Brexit is putting you off or you are contemplating selling but are unsure what to do, why not check out our free online valuation tool (click here) to start off with and maybe you can start the ball rolling from there? We offer a free, no obligation market appraisal by one of our Witham property experts so why wait? Let’s get your property sold this summer and get you moving again!