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Spring is traditionally the busiest time of year in the UK housing market. 2022 looks to be no different. If you need guidance on why this is the ideal time to enter the housing market, Geoffrey Matthew is here to assist you.
Rightmove study shows March is a busy time in housing market
A review carried out recently by Rightmove looking at five years of property data (excluding 2020) highlights the importance of spring in the housing market. March is when the most significant number of property buyers enquire about buying a home. Over this time frame, March has also been the month where most properties are listed for sale.
Of course, with demand outstripping the supply of homes, this month is a solid month to sell your home. Knowing that demand holds in April and May will provide confidence for homeowners looking to sell their homes at this time of year.
Another great reason to consider selling your home is that homes are selling fast.
OnTheMarket, another leading property portal, found 61% of properties listed for sale in February 2022 were sold subject to contract in the first 30 days.
In February 2021, only 43% of properties were sold in this manner.
Jason Tebb is the Chief Executive Officer of OnTheMarket, and he said: “This faster-paced market doesn’t offer much opportunity for taking your time to come to a decision. With competition for available stock strong, buyers who aren’t organised and prepared to be decisive face missing out.”
If you plan on selling your home, it is helpful to know what buyers want to see in a property. With this information, you can tailor your property to best suit the needs of people looking to purchase a property.
At Geoffrey Matthew, we stay in touch with the latest housing market trends and studies, ensuring you are fully informed.
It won’t surprise you to learn gardens are a priority for many buyers. The importance of space around the home has been reinforced in recent years. So, with spring here again and summer fast approaching, prospective buyers want a great garden space at their homes.
A study of first-time buyers conducted by The Cumberland Building Society found 85% of respondents saying a garden was essential to them. Pre-pandemic, living space was the priority for these buyers, but now, having an external space was critical.
Another thing to bear in mind when selling property is buyers look for features in the local area and the property itself.
A study of more than 2,000 UK homeowners, carried out by Hillarys, highlighted buyers’ “must have” features. 84% of respondents said a “desirable school catchment area” was the number one attraction.
The top five answers were:
If you want to sell your home, work with an estate agent who knows the market and what buyers need. At Geoffrey Matthew, we are committed to helping you sell your home.