HOMEOWNERS: Today is the best time to sell - Mortgages - News - Moneyfacts

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HOMEOWNERS: Today is the best time to sell

HOMEOWNERS: Today is the best time to sell

Category: Mortgages

Updated: 02/09/2015
First Published: 02/09/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Have you been thinking about selling your home? Well, today could be the best time to start the process, with data revealing that listing your property right now could give you the best possible chance of not only selling your home before the festive period, but also achieving the highest price.

The best chance of a sale

Research from online estate agent eMoov.co.uk has led to this bold statement, which has been based on a number of influential factors:

  • High buyer activity. Google search trends show that traffic levels to major property websites Rightmove and Zoopla can fall by as much as 30% from the start of November until the end of the year, so if you list your property now, you've got a two-month window to make the sale before buyer activity starts to decline.
  • Average selling time. The average time to sell a typical property stands at 65 days according to Rightmove – or 55 days for properties listed with eMoov – so you'll be able to comfortably make that average by listing at the start of September.
  • The Christmas countdown. The upcoming festive season could also work in your favour, with many buyers wanting to make the sale and get settled into their new home before the Christmas rush begins. In fact, the figures show that 12% of those surveyed believe that Christmas aids a sale as people are determined to make that deadline, so the process can be accelerated by pro-active buyers.
  • School admission deadlines. Children and their schooling can be another driving factor – many schools are closed to new admissions by the start of February, so parents will be looking to secure that all-important property in the desired catchment area as soon as possible.
  • The weather. Strange but true – the weather really can affect your ability to sell! The figures suggest that 43% of respondents believe selling their home in the summer aids the process, while 17% agree that it's more difficult to sell during the winter months. However, with the summer being notoriously busy, September can offer the perfect compromise, with the weather still being nice enough to ensure that the pictures on your listing show your property off in the best possible light.

"Listing your property for sale on 2 September is certainly going to aid the sale of your home," said Russell Quirk of eMoov.co.uk. "September is the second-busiest month for buyer activity on Rightmove and Zoopla, and although January tops the table in terms of traffic levels, it's also one of the peak months for those listing their property, so competition is fierce. Add to this the British weather in January and it makes for a dreary time to show buyers your home, all of which could make a September listing ideal.

"Selling in September could also result in a higher price achieved. Our latest Property Hotspots Index shows that demand for property across the nation has risen by 9% since the start of the year, and it's when demand starts to outstrip supply that we see house prices start to climb."

Is it time to get your home listed? Now could be the perfect moment to take the plunge, and it's also ideal in terms of the new mortgage opportunities for your next property. If you're coming to the end of a fixed rate deal or are sitting on your lender's standard variable rate (SVR), you'll want to look at the alternatives, because with mortgage rates at record lows you could benefit from lower repayments for the long term. So, get listed, get searching for your next property, and get your mortgage sorted in time for Christmas!

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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