Best time to put flat on the market

Olistanding

Hi

I live in a two bed flat in zone 3 in London. We have recently had a baby so intending to move to a bigger place further out, likely to be in a typical commuter belt town in Hertfordshire, Surrey or Buckinghamshire

We are just trying to decide the best time to put our flat on the market and would appreciate any advice you can provide on this. We are considering either post boxing day this year or March/April next year. We would ideally wait until spring time for personal reasons but the estate agents we have spoken to are advising to put it on around Christmas due to the uncertainty in the market (without providing any additional insight).

I appreciate its a bit like crystal ball gazing but can anyone think of reasons why it would advantageous to put it on early in the new year rather than spring?

I am aware the bank of England interest rate is projected to peak around March next year so if that leads to higher mortgage rates that could make it difficult to sell. However I guess these projected increases might be priced in by lenders months in advance.

Thanks

Oli

eddddy

Olistanding said:

We would ideally wait until spring time for personal reasons but the estate agents we have spoken to are advising to put it on around Christmas due to the uncertainty in the market (without providing any additional insight).

Just one observation - given a choice of dates, an estate agent will almost always pick the earlier one.

Essentially you're asking the estate agent "Would you like the possibility of earning some money in December, or would you like to wait until March for that possibility?"

Mutton_Geoff

Agents will tell you the busiest day on Rightmove is Boxing Day, but Rightmove report that it is the last week of January. I'd make sure you're listed by 21st Jan to start picking up the post Christmas/New Year "let's move this year" interest. I definitely wouldn't market before January, the Boxing Day spike is most likely boredom with nothing on the telly and all other avenues of the internet explored with the exception of pronhub which wouldn't be appropriate with the family gathered round.

Jonboy_1984

We listed our flat mid December last year and took 10 weeks or so to get an offer. The same sized flat above it went on the market in March and took roughly 12 weeks to get a proceed-able offer.

YoungBlueEyes

Here’s a conversation from a few a years ago between me and my friend. 

Her - did you have a nice Christmas?
Me - yeah the usual. Stuffed to the gills on chocs and watched a load of telly. How about you? 

Her - yeah really good. Stuck all my pressies on eBay then checked out the desperate sellers on Rightmove. 

JustinTime19

If you can get an estate agent that will allow you to pause and readvertise, you can always decide to advertise it later - I would consider putting it on now to try and benefit from people who have had their mortgages approved and are benefitting from low rates.

I used purplebricks and they allow you to pause and readvertise and the only additional costs are if new photos are required, or you want to improve the advertising on rightmove etc. Purplebricks gets a hard time especially with their conveyancing (so I would definitely keep away from that).

theartfullodger

In November 1979 under Thatcher's iron fist Bank of England base rate hit 17%. I had a for then large mortgage.  I was lucky - building society only wanted 15%..... Hope it doesn't get that bad..

Best time?  F K..........

TripleH

Bearing mind, of you advertise around Christmas, the decorations will indicate when it was listed and this in my opinion, looks naff if your advertising still in March (or reduce the price).

Better to have the pictures taken without Christmas decorations showing whenever you advertise it particularly in an uncertain market.

lika_86

What's your access to outside space/air con like? If it's decent then the prospect of someone moving in before summer might be appealing.

hazyjo

Absolutely don't market until January. Reasons:

1. Christmas decorations in photos look awful and usually make the property look smaller. 

2. Estate agents and solicitors are mostly closed between Christmas and New Year.

3. It will make your flat look like it's been on the market for a couple of weeks without selling (as everything will have been closed). Also, if it takes a month to get a buyer, it also looks pinpoints exactly when it was marketed! Would never have photos taken on a snowy day for the same reason!

4. You don't want people viewing (if they're even able to view!) when you have Christmas stuff out, including presents under a tree. Too many dodgy people about, especially at this time of year.

5. It's a busy time of year if you market just before Christmas. People are busy, and I'm sure you will be too. I wouldn't particularly want people knowing all the times I'm out.

LegallyLandlord

 I think mid-late Feb is good. Slightly ahead of the rush in March, but after Christmas. I put my flat on the market this year in the 3rd week in Feb and it went within a week with 2 offers.