The time of year that a homeowner chooses to sell their property can often be enough to determine the success of the sale.
Different buyer trends emerge throughout the year and influence the number of property sales. For example, at the start of the year, many people are ready for a fresh start, and purchasing a new home becomes top of the agenda for thousands of budding homeowners and home movers.
The timing alone has a direct impact on the level of competition in the market, the sale price, and the likelihood that a property will even sell.
The UK market has shown strength and resilience during the start of 2022, proving now is a great time to sell.
Now is the time to sell
The current market trend that continues to fuel housing demand is the ongoing supply and demand housing disparity.
Although increasing numbers of properties are heading to the market, there continues to be a low number of properties available for sale.
In Rightmove’s housing market report of 2022, it was revealed that UK properties for sale are still seeing high levels of interest and demand.
Prospective buyers have been active in enquiring about homes as Rightmove reveals that 15% more people, compared to last year, are enquiring about properties.
However, the report also shows that the quantity of homes for sale per estate agency branch has dropped to only 12%. This figure is higher than in previous years.
With these factors impacting property sales, the Rightmove report concludes that competition amongst budding buyers hoping to secure properties is twice as fierce as it was compared to this time last year.
With more buyer enquiries along with fewer properties available, the overall level of buyer interest per available property is high.
Sellers whose properties are already on the market will benefit from the busiest start to the year on record.
Valuations and visits on the rise
The start of the year is typically the busiest for the property industry. Usually, people have new plans for the new year, and moving to a new location is of high interest.
In addition to this, the housing market has remained open and more recently the plan B restrictions brought in to prevent Omicron have been scrapped. So, it is anticipated that more people will be encouraged to participate in in-person viewings to get a true feel of the properties they are interested in purchasing.
When preparing to move home, one of the first things that are carried out is a home valuation. According to Rightmove’s housing market report, the number of home valuation requests is 44% higher than the same period last year, and 48% higher compared to the same time in 2020.
Furthermore, new figures from the 2022 report already show that properties joining the UK market are 0.3% higher in price. This is the equivalent of £341.019, 7.6% higher than last year as well as the highest annual rate of price growth recorded by Rightmove.
Early-bird sellers who are represented by a reliable estate agent are more likely to secure a sale in no time.
Estate agents in your local area who are knowledgeable able the industry can give that extra boost to attract the right buyers.
Here at Kings Group, we can assist sellers in the London, Hertfordshire and Essex markets to secure the right buyers. For more information and help on your selling journey, please contact one of our branches today.
Meanwhile, our free and instant online valuation will give you an idea of how much your home is worth in the current market
