Do seasons affect the property market?
Point one: There is no one property market, regardless of the season.
Point two: Deciding to buy or sell a property is likely to involve more pressing factors than the season alone.
However, a lot is said on the subject.
- Spring is traditionally the most active market because everything looks at its best.
- Spring is a popular time for open inspections, and there are often September school holidays involved.
- The spring market can have much greater buyer competition that can drive up prices.
- Summer months from mid-January on will provide less competition from other sellers who are still in holiday mode.
- Summer is a good time for selling family homes because of sunshine and school holidays, and buyers wanting to settle before a new school year.
- Summer is not so hot for selling if your usually quiet street is turned into a parking lot by beach-goers.
- Summer, or more specifically December, may be the time to find a bargain property because sellers may be keener before the New Year
- Winter, or more specifically June, may be the time to find a bargain property because sellers may be keener before the new financial year starts.
- Winter is best to sell because it’s traditionally quiet so less competition.
- Winter is a terrible time to sell if the spring garden is your home’s best feature.
It is possible to have a positive real estate experience at any time of the year.
The reality is there’s no one season to sell a property that will suit everyone; there is no one season to find that perfect home to buy.
The fundamental driver for property sales is supply and demand, not what season it happens to be. Many factors determine the state of the market including supply and demand, investment levels and economic conditions.
The balance between buyers and sellers in your local housing market will indicate when it’s a good time to buy. If you can, buy and sell in the same solid market. And getting a great deal on your new home isn’t only about a bargain and the price tag. Seek advice on the best home loan options because a competitive interest rate on your mortgage may save you even more in the long term.
If you are selling in autumn, you may want to take positives from the fact the weather is often beautiful in the milder months of March, April and May; it is around the time that New Year’s resolutions about buying a new home may be enacted; and, for some, there are not as many sporting commitments in autumn!
Sell when your market research, including discussions with agents, indicate the timing may be good; and, if possible, sell when your home’s features are at their best.
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