The most recent analysis from property and lettings agent, Barrows and Forrester, has revealed that hopeful sellers already in the marketplace nonetheless have a robust likelihood of finishing earlier than Christmas, with the autumn months of September, October and November seeing the most important variety of houses offered over the past 10 years.
Barrows and Forrester analysed property transaction information stretching again over the past decade to see how seasonal traits might influence the property market as we strategy the top of the yr.
The analysis exhibits that the summer season months of June, July and August are among the busiest of the lot, with 2.705m summer season gross sales finishing within the final 10 years – a median of 270,518 transactions per yr.
Only one season tops summer season in terms of the overall variety of houses offered and that’s autumn.
During the last decade a complete of two.709m properties have accomplished through the autumn season.
This equates to a median of 270,961 annual gross sales – a marginal 0.2% uplift versus the summer season season.
For individuals who don’t make it over the road earlier than winter comes, the possibilities of promoting are dramatically lowered.
Whereas 2.274m houses have offered over the past 10 winters, it’s the quietest time of yr for the property market, with a decline in transaction ranges seen yearly, averaging out at a -16% drop in market exercise between autumn and winter.
Managing Director of Barrows and Forrester, James Forrester stated, “Though Halloween is but to reach, there are already hushed whispers of Christmas beginning to flow into and so it’s solely pure that some sellers could also be trying to the Christmas deadline with diminishing hopes of finishing.
The excellent news is that they nonetheless have a really robust likelihood of doing so and, in actual fact, over the past 10 years, extra gross sales have accomplished through the autumn months than another season.
Autumn additionally sits nearly identically to summer season in terms of the typical variety of houses offered per yr and the proportion of complete gross sales every season accounts for.
So, because it stands, we’re proper in the course of the property market peak of exercise and so it’s effectively price pushing on if you happen to had deliberate to finish earlier than 2024