Traditionally Spring has always seen a boost in activity for the property market. Why is that?
Here are some of our observations
- Curb Appeal – By the time February has arrived, we are all pleased to see the daffodils pop up, grey skies turning blue and warmer days. Blooming gardens make homes look their best and lighter days enhance the ambience of your home. What a great time to attract a buyer
- Holidays – Families with children will appreciate how much easier it is to move home during school holidays and be settled by the start of the next school year. Property transactions can take 4 or more months to complete, Spring is the ideal time to make a start.
- Value – Everyone wants to achieve the best price for their home. Rising demand, improving weather and the ‘Springtime feel good factor’ all help to drive prices in the right direction.
So just how strong is this effect? Read on to find out
‘Rightmove’ revealed that March is the busiest month of the year.
Their study of home moving data over the last 5 years (excluding the 2020 lockdown) revealed that March had the highest number of buyer enquiries per property, closely followed by April and May. The number of properties coming to the market is also historically at its highest in March.
What? I am competing with more properties?
For 2022, the study shows that new listings coming to the market is up 11% while buyer demand is up 32% for the same period. So, housing stock is continuing to fall, and local observations in our office confirm there are lots of frustrated purchasers who are clearly experiencing this too.
Buyer competition drives prices and the last 2 years have seen unprecedented demand and value change. There has never been a better time to be a seller.
It certainly looks like this Spring is shaping up to be a busy one. So, are you ready to take the plunge this Spring and start your journey to a new home?