There was a time when there was such a thing as ‘the perfect season’ to put one’s property on the market. There were charmingly simple reasons for this. In May the trees are newly in leaf and everything seems fresh, the days are warmer and longer, and buyers often like to move in by the summer holidays or before the start of a new school year. Yes, late spring was traditionally a perfect time to enter the property market.
Reflecting on the first half of 2022, however, it appears our buyers and sellers have not been waiting around for spring flowers in their garden or for perfect sunny days to view property, they have moved sharply and on initial instinct. Those that have been ready to pounce on the perfect house coming to the market have been successful over the competition, where we have found many new listings going to sealed bids.
In today’s climate, we also need to consider many additional and sometimes less charming reasons to trigger a sale and purchase. So why is there no longer a perfect time of the year to market your home?
Kyiv might be over 1300 miles from London, but what is going on there and the longer-term ramifications of the war with Russia mean the future is uncertain. Energy and food price rises mean we can’t predict the future cost of living, and escalating interest rates mean our mortgages will be higher, but by how much? The way we work is changing. Many employers are eager for workers to get back to the office, so the five-days-a-week work-from-home idyll isn’t as much a given as it was.
So whichever way you cut it we are surrounded by uncertainty, and the property market apparently hates uncertainty. However, the greatest shift in my time in the property industry undoubtedly took place in the midst of the Covid pandemic, which you could say was a time of grave uncertainty. It is the only time in history that the property market has flourished as global economies were on the brink of collapse.
Regardless of uncertainty, all we truly know is what is happening today. So, if you are sitting on the fence waiting for a sign, let this be the sign. You might not have anywhere to move to yet and, yes, currently there are few properties for sale. But that is because everyone else is sitting on the same fence. However, it’s incredible how things can open up once you have made the first move. One thing is certain though, nothing will ever open up unless you do make a move.
We currently have a raft of properties on our books with offers accepted to willing buyers that frustratingly are not progressing, as our vendors have not found a suitable house to move to. Your buyer could be hiding in plain sight; instantly proceedable!
Will we see the buying frenzy of 2022 carry on into 2023? Will you kick yourself if you find out next year prices fall back slightly? Will you wish you had bit the bullet and tested today’s top of a bull market? If anything should get you off the fence it’s when all the selling stars are aligned – and they are now.
Old charts printed ‘Here be dragons’ in unexplored waters. In property if you want some certainty it’s often better not to chase dragons.
If you are considering a move, please get in touch with a member of our expert team who can guide you through your options and tell you exactly who wants to buy your home…that’s precisely what we do.