Is Spring REALLY the best time to sell?

We’ve all been repeatedly brainwashed by the media and indeed many Agents to believe that Spring is the optimum time to sell; that it’s a seller’s market.  In fact, Property Commentator, Michael Matusik says the evidence does not support this, and that it is actually a buyers’ market due to the increased amount of stock to choose from at this time of year.

Michael says that, “seasonal factors really play a minor role in the sale of a property – it has more to do with demand and supply at the time.”

“Often, the supply of property on the market increases in spring – most believe the myth; yet demand does not.  Buyers have more to choose from and hence reduce their offers in terms of price and conditions.”

Evidence shows that for older properties, late summer is the optimum time to sell and for newer properties is in the first half of the year.

Matusik’s research shows that:

·        There is little difference in actual price growth when it comes to seasons, with summer winning with a slight margin of between 2% and 5%.  The same applies to rental growth, where most growth occurs in the winter due to listings being in shorter supply.

·        There is also little difference in the number of properties sold between seasons – if anything, more sell during the first four or five months of the year.   

As we head into a new year, it is worth keeping this in mind, particularly if you have any notion that you may want or need to sell a property this; also, if you are in the market to buy a property and can hold off until Spring, that could be well worth your while.

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