Why November is a good time to sell your home in the UK

Halloween has come and gone and now people’s attentions turn to Christmas. What, then, is so special about November? Nothing for many people. But for home owners, it is a key month to sell your home. 

Many sellers will be preparing for the spring bounce to market their property, but those racing to beat the festive holidays may find themselves in a far better position than expected.

Here are five reasons why November is a good time to sell your home in the UK:

1. Less competition from other sellers

Nobody traditionally lists their home for sale in the winter months, because buyers are thin on the ground. Indeed, according to Rightmove, seller asking prices have dropped in eight out of the last 10 Novembers to try and stimulate interest. This year, though, marks the smallest monthly dip for five years, with the annual rate of increase climbing to 8.5 per cent.

In addition to better pricing conditions, sellers are thin on the ground too: with fewer people bringing their property to market, you have less competition, which means that you can attract a lot more attention from house hunters.

2. Low supply

Average stock levels per estate agency branch are at historically low levels, with an average of 60 properties for sale, according to the UK portal. While there is a drop in the number of new listings coming to market, that existing shortage in the UK housing supply means that your listing will stand out ever further – and will also stand a better chance of fetching a higher price.

3. More buyers searching online

Buyers may not be traipsing the streets in the cold, dark nights, but they are searching online. Indeed, with property sites becoming increasingly mobile friendly, smartphones mean that people can search after their dinner, while in bed, or even on the bus. The notion that winter means no house hunting has been eradicated by the 24/7 nature of the modern digital lifestyle.

4. Shorter spring selling season

The election in 2015 is causing caution among house hunters, but if the effects are being felt now, they will be felt even more so in spring next year, as the voting day approaches. As a result, the spring selling season will be shorter than usual, which will prompt some buyers to attempt to complete a sale – or at least secure a potential sale – before the holidays begin. Rightmove’s site already receives half a million hits on Christmas Day and 1.3 million on Boxing Day; a sizeable audience that indicates wider demand across all property sites. Those waiting until January will simply miss out on all of these potential buyers.

5. The most active year for sales since 2007

The UK housing market has had an impressive run of late, with prices soaring and demand rising. While values are moderating now, and lending has been restricted, 2014 remains the most active year for property sales since 2007. November is undoubtedly a good month to sell your home. This November, though, your chances are better than ever.

Photo: Rich8e8

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