As we move towards Christmas and the New Year the property market is naturally beginning to show some signs of slowing although activity levels amongst those that are really committed to moving remain strong.
November saw reasonably strong numbers of transactions in both sales and lettings although the number of new instructions coming to the market, particularly in regards those seeking to sell, continued to reduce.
This “supply and demand” situation is meaning that, despite challenging economic conditions, property values are holding up well and, whilst the national picture is a little more negative, we are finding that locally excellent prices are continuing to be obtained.
Whilst in the lettings market it is still possible to agree a tenancy and move before Christmas, this is now highly unlikely in sales and a move early in 2013 looks more realistic.
For many potential sellers who wish to move in 2013, now is actually an excellent time to get the property valued, instruct an agent and be ready to “hit the ground running” for January.
For example, getting photos taken and details prepared before the Christmas decorations are in place and ahead of any adverse weather conditions such as snow, can be of huge benefit. Instructing a lawyer to act is also a good way of ensuring that a transaction can move in line with the timescale you seek. Getting a contract and all paperwork ready ahead of finding a buyer means that as soon as terms have been agreed the process can get underway without delay.
Having your property ready to go as soon as the New Year celebrations are finished will enable you to take advantage of the increase in buyer and tenant enquiries that immediately happen in January. In fact, starting to market a property online during the Christmas and New Year break is a good idea as this is one of the most active times for buyer and tenant enquiries via the internet. No sooner have the turkey sandwiches been finished it seems, than people start searching for a new home!
Finally, on behalf of everybody at Sansome & George may I take this opportunity of wishing you, your family and friends, the very best wishes for an enjoyable Christmas and a happy, healthy and prosperous New Year.
David Sansome
Managing Director
