When is a good time to sell my home?
While seasonal theories often come into consideration when deciding on the best time to sell a property, other factors (such as the state of the market and financial dynamics) are also important.
Thankfully with the demand for Highgate, Hampstead, Belsize Park, Hocroft and Kenwood properties being sustained, and the Bank of England hinting that an interest rate rise might be as far off as 2017, the coming months all look attractive for potential vendors.
With Christmas and the school holidays out of the way, and New Year’s resolutions still fresh, January could be the perfect time to consider a house move and a new start in 2016.
If the New Year isn’t convenient, the end of March is an ideal time to sell. The Easter Bank Holiday weekend is a good time for people to view property, with the chance to make a second viewing without conflicting work commitments, thanks to two public holidays. The improved weather and spring blooms also tends to make everything look more appealing. An earlier Easter in 2016 means there are over 12 weeks from March until the beginning of the long summer holidays. With the average transaction from offer to completion taking about 12 – 16 weeks, you could possibly be moved in before the summer starts - a big deadline for families.
It’s not just the seasons, however, that you need to take into consideration. A good time to sell and buy is when interest rates are low or are held at an attractive rate. With current UK interest rates continuing at an all-time low of 0.5%, people are feeling more optimistic about borrowing, especially as mortgage rates normally mirror interest rates. Even when an interest rate rise does occur, which, according to the Bank of England won’t happen until at least the end of 2016, the rise will be slow with a rate of 1% predicted by autumn 2016 and 1.7% by 2017.
Daniel Epstein, one of the partners at TK International, comments: “The next few months present a fantastic window of selling opportunity: interest rates remain low and there is a growing demand for properties for sale in Hampstead, Highgate, Belsize Park, Hocroft and Kenwood.”
“There are seasonal and financial factors that influence the property market but they should never deter anyone who needs to move. TK International has a list of serious buyers and sellers, who are determined to move whatever the conditions. We’d be happy to help any potential seller by providing free advice, a property valuation and the services of our professional team.
Contact TK International today for more details and friendly advice.
