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16th Aug 2023|Sales|Lettings|

The Truth About The Summer Property Market

The skies are blue, the sun is out, and the days are longer – it must be summer! For many of us Brits, summer spells beer gardens, alfresco dining and well-earned relaxation. However, for many years there has been a preconceived notion that summertime does not bode well for those listing their homes on the property market. How true is this? Does summer sunshine really spell disaster for sellers? 

In short, no – summer is not an abysmal time to list your home for sale. Here’s why the summer property market is so bright…

Summer selling banner

Are Seasons Important In Selling?

Firstly, it is important to note that season is not the most important factor when it comes to selling your home. The Advisory state that the single most impactful aspect when it comes to a successful property sale is the asking price – not the ‘heat’ of the market or the season. Therefore, sellers ought to be wary not to overstate the impact of season when it comes to listing their home. So long as sellers list for the right price, stay in regular contact with their agent, and are forthcoming with the relevant documentation, you should be guided towards selling success.

Hot Summer, Hot Market

Many believe that listing your home in summer is an ineffective way to make a quick sale that achieves the best possible asking price for your property. In fact, many sellers opt to wait until spring to take advantage of the supposedly more buoyant property market. However, waiting for the ‘perfect time’ to sell will leave sellers in perpetual limbo – after all, there is no perfect time to sell up! 

Furthermore, statistics from the past year indicate that summer is no better or worse than spring for making your house sale a success. According to the Rightmove House Price Index, March to June showed much the same level of market activity, with the average number of days to secure a buyer being 55 across both of these months. As such, sellers should not anticipate their property sales to be prolonged throughout the summer property market.

It is also worth noting that the summer property market at the time of writing is extremely competitive. According to Finder, there were over 360,000 searching first-time buyers last year. Despite increases to the base rate, undersupply and soaring demand means that many buyers are eager to get onto the property ladder. This is especially the case with rising rents, which are further pushing tenants towards purchasing their first home, with buying being more financially feasible for many tenants than continuing to rent. As such, your property listing is sure to gather interest regardless of when you launch to market.

Summertime Staging

Still not convinced that summer selling is for you? Summer sunshine comes with its own set of benefits for property sellers, namely in the way it can transform property photography. Photos are a huge part of a buyer’s first impression of a property – it’s no wonder that 61% of estate agents claim that high quality photography is a dealbreaker when it comes to selling. Taking your property photos in summer, especially your externals, quite literally puts your property in a good light. There’s a reason why many agents will pay for editors to amend their photos to add bright blue skies: it creates happier connotations and generally makes properties look more appealing

Furthermore, there are logistical benefits to selling in the summer. Longer days mean that agents and vendors are able to carry out more viewings in the sunlight. This is particularly beneficial for those with glorious outdoor spaces that cannot be fully appreciated at dusk.

The Christmas Rush

Lastly, sellers should be aware of the main motivator for buyers throughout summer – being moved in by Christmas and New Year. Most home movers aim to be in their homes by December, which is widely regarded as the most stressful part of the year. According to the Advisory, the time it takes between first launching your property on the market to exchanging contracts takes an average of 18 weeks. This means that buyers looking to move into their home by Christmas will need to start looking for their dream home four months prior to Christmas. This juxtaposes the idea that summer is a poor time to your home, as this timeline makes August the prime time to take full advantage of this influx of traffic from eager buyers looking to complete a sale in time for December festivities. 

Explore The Secrets Of Summer Selling

Now we’ve debunked the myth that summer selling is redundant, it’s time to get your home on the market! Explore our new Secrets of Summer Selling hub! Full of help and advice for sellers, you’ll find everything you need to make a success of listing your property. Alternatively, access our downloadable selling checklist below to make sure you nail your summer sale!

Download Checklist - Secrets of Summer Selling

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