As house prices hit new record high, experts deem spring as the best time to sell
21 April 2022
In March this year, average asking prices for new property on the market soared by 17%, equating to an average £5,760 rise, and taking the cost of a home in Britain to an average £354,564.
With house prices reaching a new all-time high, it could be tempting to sell a home to reap the inflated prices.
According to the property portal giant, Rightmove, this spring is the best time to sell a home.
Asides asking prices reaching record figures, the imbalance between demand and supply is hailed as a reason to sell a home this spring. Put simply, there are twice as many buyers looking for homes compared to sellers, meaning demand is significantly outstripping supply.
Additionally, the chances of finding a buyer in the first week of a property going on the market is the highest it’s ever been. Research shows that compared to the same period in 2019, sellers are twice as likely to find a buyer in the first week.
Irrespective of the favourable market for sellers, spring has long been considered a good time to put a property on the market.
The reasons for this are fairly obvious and self-explanatory. The sunny, mild weather and lighter evenings are more inviting for house hunters to go out and view properties.
Homes can often look at their best in the spring, with flowers coming into blossom in the garden.
Families can tend to want to move in the spring so they can be settled in the new area before the new school year begins in September.
With the value of property in the UK at an all-time high, and the beauty and uniqueness of spring in full bloom, now could be a great time to put your home up for sale in auction. Get in touch with the Auction House London team to request a free property valuation.
Written by Andrew Binstock
21 April 2022
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