13 March 2017
As a property buyers’ organisation we get the inside view on what our members are thinking when it comes to buying as well as an indication of market conditions. In times when the selling market is traditionally quieter enquiries to our members should rise as people struggle to sell using traditional methods such as estate agents or auction companies.
As we approach spring many more people start to consider a move – perhaps to be settled in before children start at a new school, to have a larger garden to enjoy in the summer or simply because we can all get a bit restless as the days lengthen and the desire to make a fresh start increases.
March to May certainly is a much busier time for sellers as more buyers embark on the buying process. Generally July and September are busy months for completions ie when all those purchases finally come to fruition.
However, the seasons are less important in the buying process than they were before the internet changed the way we buy almost everything.
The average number of viewings people make before choosing a property has fallen in recent years due to the fact that they can now see so much about the house online – floorplans, numerous photos and even neighbouring homes using Google Streetview. This means that they can buy throughout the year without being deterred by numerous cold, dark evening viewings.
Christmas also used to be a time when almost nobody thought about property – even the estate agents! The old December joke in the trade was ‘why don’t estate agents look out of their office window in the morning? Because they want something to do in the afternoon.’
Now Boxing Day is one of Rightmove’s busiest days with millions searching for a new home, although the days just prior are still relatively quiet.
Our members report steady enquiry numbers throughout the year, with January usually the most active month and while the market is still quite strong, it looks like professional property buyers will have a busy 2017 as other standard cash buyers are affected by new landlord and buying taxes potentially slowing demand.
A list of our professional cash buying members can be found here.