For us property professionals, or sometimes called property bores, every year we see a lull in the number of new properties coming to the market in February and March. It is a “grey period” between the busy Christmas period; when there are lots of completions as people move home before year end, AND the run up to Easter.
Sellers often think they should wait until the daffodils are out and the gardens are looking pretty before they should try and sell. Whilst there are pro’s to having the garden looking good, there are negatives from a market timing perspective. It is also amazing what can be achieved with professional photography these days!
From a timing perspective, as a seller, NOW, before Easter is a good time to sell. Why? You come to market BEFORE the many other sellers come in the busy Easter period. This rush to sell (As stockbrokers say; sell in May and go away!) often leads to a glut of new properties for sale which can make it more difficult to execute a sale.
Also, importantly this year, due to Covid, we can potentially expect a lot more people to be prioritising holidaying over house hunting in the May-July period. At the moment, buyers are stuck at home, frustrated with the lack of sellers, and dreaming of making an acquisition ASAP, so they can be in their new homes for the “British summer”!
So, whilst it is important the property looks its best, it is also important that you put the property to market when there is not too much supply. The demand/supply balance is important!
Furthermore, we have just heard the Spring Budget news.
STAMP DUTY – Great news for the property market that the Government has extended the stamp duty holiday until June. To get the benefit of this substantial saving, buyers will really need to secure their new home by say end of April; giving the solicitors etc 2 months to conclude contracts and complete the transaction prior to the end of June.
So the window of opportunity for these buyers is from now, 3rd March to say 30th April.
We would urge any potential sellers considering “holding off” instructing a sale until early April or Easter to reconsider and contact us ASAP.
To get this relief buyers will want to secure their new home by the end of March to give them a chance of getting the purchase done in time.
The time to put your property to market is now.
We can be discrete in sales if you wish, we at heart are a good old fashioned estate agency matching the right properties to our buyers, often with less viewings, less hassle but importantly achieving best price.
Please contact us to discuss how we can help you. Even, if you are not feeling comfortable with a visit because of covid, we can still offer advice, and give you a full report online.
For those looking to buy, PROPERTY SEARCH – please register your interest ASAP. We are doing more sales than ever before, off market, so please let us know your requirements so we can be sure to keep you informed.