The chilly winter months are finally behind us, making way for the warmer balm of spring. With the traditional bounce back of the housing market during this time, combined with low mortgage rates and the recent stamp duty cut for first-time buyers (FTBs), it’s a good time for sellers to list their property for sale.
On top of this, recent research from AA Mortgages shows that 15% of homeowners in Britain are looking to move in the next three months, while one in eight people are looking to move in the next year, with those buying having an average budget of £320,000 to secure their next home. Meanwhile, almost a quarter of the population are planning to move in the next two years.
These figures align with a boost for the housing market recorded at the beginning of the year. According to the NAEA Propertymark, the number of house-hunters looking for new homes registered with an average estate agency branch rose by 37% to 367 in January – the highest figure since September 2017 (394).
What’s more, first-time buyers also have more reasons to join the fray. As of November last year, there is no stamp duty required on purchases up to £300,000 and no stamp duty to pay on the first £300,000 of more expensive homes.
As you can see from the above, sellers need not wait until the summer months to list their property. Here at Kings Group, we present you with a few more reasons why…
There are more buyers in the market
While the market in the winter can be beneficial for buyers, the growing competition in spring is just what sellers need. Your listing may be seen by a greater number of prospective buyers during this period, meaning there’s a chance you’ll have more people competing to purchase your home.
You may secure better offers
More buyers interested in your home means your chances of achieving your asking price or above are greatly improved. The spring market gives some sellers the opportunity to be a little pickier about who they sell to, allowing them to stay firm on the asking price.
Relax during the summer
Selling your home in the spring ensures that you go into the summer months without the burden of having to undertake the sales process. You will feel less stressed once the deal has completed and your property is sold. It will therefore allow you to focus on getting settled in your new home and enjoying the warmer months of summer.
Take advantage of timing
In most cases, buyers (particularly families) are looking to move before the summer and beginning of a new academic year in order to get their kids settled in time for school. Putting your home on the market early enough in the spring will allow you to enjoy the benefits of a bigger pool of motivated buyers.
It’s easier to make the home look great
A winter sale can be stressful because of the bleak weather and darker days. Springtime sellers are able to go to greater lengths to improve the curb appeal of their property. From charming gardens to manicured lawns and clear pathways, preparing your home in the spring is easier than in the winter.
Here at Kings Group, we provide guidance on buying a property in North London, East London, Hertfordshire and Essex. For more information on how we can help to sell your home, contact your local Kings Group branch today.
To find out how much your home could be worth on the current market, you can request a free instant online valuation.