Guild Blog: Buying and Selling Over Christmas

Should I put my home on the market now or wait until after Christmas?

 

Many people think that trying to move house over the festive period is a mistake, but that is no longer the case. People have more free time and motivation to make a change in the New Year, so it can be a great time to buy and sell. Guild agents share their top tips.

 

Make your property visible online 

If you are selling, your home needs to be listed and visible on all the major property portals (like Rightmove) over Christmas. People have more free time and will start to browse properties online over the festive season.

Ailsa Mather from Andrew Coulson says: “We are listing a number of properties now because statistically, property portals show that there is a substantial spike on Boxing Day. We appreciate Christmas is a busy time for families, so we operate a ‘Do Not Disturb’ policy, that is clicking the property on the market just before Christmas but refraining from viewings until after the New Year.”

Simon Miller from Holroyd Miller agrees that sellers need to take advantage of this busy time. “Once Christmas Day is done and Boxing Day leftovers eaten, what do people looking for a New Year move do? Start looking for a new home. Don’t miss the opportunity to sell your house during the holidays; what could be nicer than viewing a very festive home?”

Rightmove say that Boxing Day is their busiest all year, and Steve Thompson from Thomas Morris agrees that it is equally busy in their office.

“Statistics have shown over recent years that the busiest days of the year for internet traffic on property portals are the days immediately following Christmas and Boxing Day. Our own evidence appears to confirm this phenomenon, showing that during the period from Christmas Eve 2016 up to and including New Year’s Day, we received over 130 telephone calls and 170 email leads from property portals. We even received calls and emails on Christmas Day.”

But why is this period so busy? Stuart Mills from Rickman Properties has an idea. “The reason? All those lovely new phones and iPads. It is also one of the few holidays that the family will be all together and most likely at home. This means that any discussions about a move can be had, viewings can be done with all the decision makers present, adults and children, and with a coming New Year, what better than a new home?” he asks.

Winter weather 

Spring is a popular time to buy and sell, but winter has its benefits, too.

“Sometimes stepping into a bright, warm, cosy home on a bitterly cold day or drizzly evening can have just as positive an effect as viewing a property on a warm summer day,” said Ben Whiting from Victorstone.

Abby Wheeler from Keats Estate Agents agrees.

“If you walk into a property in the depths of winter, when the sky is moody and the nights are drawing in at 4pm and you still love it, imagine how much you will love it in the summer? If in winter you can see yourself living there, it’s a keeper.”

She has some tips for winter viewings, too. “Always arrange viewings in the daylight. If you arrange a viewing after work at 6pm, you won’t get the true experience of the property, especially if there are grounds to explore. It is important to view them before the night draws in.”

 

Motivated to move 

Those people who are looking to move in December and January are committed to moving quickly. It’s a great idea to make the most of this.

Richard Stovold from Seymours said: “Although there are downsides to house hunting over the festive season, the benefits can outweigh the drawbacks. Houses that are available for sale over the Christmas period have often either been on the market for a while or are very new to the market. This means that sellers are likely to be eager to secure a sale, giving buyers greater control as they find themselves in a much better bargaining position.”

Simon Davies from Norman F Brown completely agrees.

“The December and the Christmas period is a great time to try to sell your property as the quality of the buyer is higher than at any other time of the year,” he said. “If someone is out house hunting around Christmastime, it generally means they are motivated to buy quickly. The speculative, non-motivated viewings decrease as people are busy preparing for Santa and won’t go out to view unless they must. There also tends to be less properties for sale around this time of year and therefore less competition to compete against for a buyer’s attention.”

Justin Flanagan from Charles Eden agrees that there is a much higher number of motivated buyers and sellers, and the ‘the viewing to sale ratio’ is much higher at other times of year. “From a buyer’s point of view, there is not so much competition and the sellers are probably motivated to move,” he said.

Think about photography 

If you’re thinking of making the most of the Christmas attention, it’s a good idea to think ahead. “Try and instruct your agent prior to putting up any Christmas decorations,” says Gina Burbidge from Royston & Lund. “This prevents the photos from looking dated if it doesn’t sell instantly.”

 

Ready for the New Year rush 

In the New Year, there will be a rush of people looking to buy and sell. Why not beat the rush by getting your sale registered or getting to know the market in December?

“January 2nd is one of the busiest days for us at Drivers & Norris,” said Steve Barron. “There aren’t likely to be too many viewings happening over the Christmas period, but it’s nevertheless a great time to get some viewings lined-up for the New Year.

“Many sellers hold off until after the New Year and miss out on the busy online searching that takes place between Christmas and New Year. Additionally, because there are fewer sellers listing their property over Christmas, those who do benefit from having less competition than they typically would have in the New Year or spring.”

Don’t underestimate the time that it takes for your home to go on the market, either.

Steve Wiggins from Bond Residential said: “Given the time it takes for an estate agent to prepare the marketing material for a property including taking photos, preparing floorplans and commissioning an Energy Performance Certificate (EPC), we advise our clients to actually start the process now so that they are ahead of the competition and ready to take advantage of these peak periods.”

It is a great time to develop a strategy with your Guild agent to make sure your home launches to market in the best possible way.

“We are currently running a ‘do not disturb’ campaign which means we are preparing properties to market with EPC, floor plan and images before the decorations go up and then launching them to market over the festive period,” explained John Newhouse from Roseberry Newhouse.

“We will then start arranging viewings in the New Year when the household returns to usual. In January 2017, we arranged more viewings on the first day back than in the whole of December,” he revealed.

It’s not essential to wait until spring to sell, agrees Celeste Hannah from Hamilton Parkers. “Most sellers wait until spring and then there is more supply and more competition,” she said. “Whereas over the Christmas season, there is less supply but still high demand. By selling your home over the Christmas season, you are more likely to achieve a better selling price than you would trying to sell against the flurry of stock in the spring market.

“My tip for house hunting over the Christmas season is to contact local agents and see what stock they have ready to launch over the festive period, as most agents hold back stock to launch over the Christmas holidays. This way you may get first refusal and will get to register your interest first.”

 

The property market is still active at Christmas 

Take our word for it: people are still looking to move, even on Christmas Eve.

“We have found that year on year we have improved with agreed sales figures in December,” said Laura Scott from Cooke & Co. “I am unsure if this is to do with investors in recent years trying to secure a bargain purchase, believing that anyone on the market at this festive time of year will be desperate to sell and more likely to accept an offer, but we have also seen a vast improvement with first time buyers agreeing sales too.”

Tim Goodwin from Williams & Goodwin says it is never too close to Christmas. “Having sold property at 4:30pm on Christmas Eve before now, I have no hesitation in recommending that potential sellers should place their property on the market sooner rather than later,” he says.

“I did have a viewing one year on December 20th, with the completion due the next day. The sole purpose of the viewing was to measure the oven to ensure it was big enough to fit the turkey in, so make sure you take your tape measure to the butchers as well as the viewing if looking to complete before Christmas Day.”

 

Are you thinking of buying or selling during the Christmas period?  Why not contact us on 01765 694800 or 01845 522680 for your Free Market Appraisal.

 

If you are thinking of moving this Christmas, why not look at what properties our Sales Department have on the market right now!

Guild Blog:Top Tips to Prepare for a Valuation

It’s Spring!.  The sun is shining and snowdrops and daffodils are peeping through the brown Winter earth.  Is this making you consider moving to a new home?  Would like an idea on your property’s value?

 

Contact our Ripon Office on 01765 694800 or our Thirsk Office on 01845 522680 to arrange for a FREE Market Appraisal.  

 

Are you thinking of purchasing a new home? Wondering about your homes’ value? Click on The Guild of Property Professionals‘ blog video below to find some handy tips to prepare your property so that it looks its best.  We would be happy to come out to your property to discuss the value of your property and a marketing strategy.

 

Joplings is an established Property Consultancy which is a true #OneStopPropertyShop catering for all your property needs. 

We are your local The Guild of Property Professionals, offering a regulated service with trained staff members, approved by Trading Standards.

Guild Blog: Property Predictions for the Housing Market of 2018

Looking back over 2018, have the housing predictions from earlier in the year and before the Spring and Autumn Budgets come to fruition?

 

 

 

What will happen to the housing market in 2018?

There are lots of housing predictions, from big growths to slight falls in house prices, but overall, most experts predict a slight rise in prices of around 1%. Find out what the big forecasters, RICS, Nationwide and Rightmove, predict in our quick video. Small house price increases mean that it is a good time to move. You can get a good sale price for any current property you own, and there is not a huge rush to buy, so you can take your time to find your dream home.

 

If you would like to discuss the market value of your property with a Guild of Property Professionals’ Valuer, please contact us at our Ripon Office on 01765 694800 or our Thirsk Office on 01845 522680.

 

 

The Guild is a network of the best 800 independent estate agents around the country. Find out why you should choose them to sell your homeClick here to find your closest Guild Member.

 

 

Guild Blog: Advantages of Upsizing or Downsizing in 2018

Finding your dream home can be a challenge. You might need a larger property if your family is growing, or if your children have left home, you might be looking to downsize. There are advantages of both upsizing and downsizing in 2018. We asked our Guild agents for their opinions and advice on what is happening in the market that makes it good for either upsizing or downsizing.

 

Simon Miller partner, Holroyd Miller

“In Wakefield, we are seeing the £500,000-plus market booming in sales. A lot of this movement is due to downsizing. Many of the larger properties in more select suburbs rarely come on to the market, but when they do there is always considerable interest.

“Currently, Wakefield is a great opportunity for downsizing purely because of the interest to buy. Likewise, it’s an incredibly good place to upsize, with more property on the market and many more new build developments, both in the luxury and mainstream market. The choice has never been so abundant.

“There are pros and cons. Upsizing may be a dream but think of the practicalities. Your utility bills, council tax, and maintenance bills will be higher. General upkeep will be a much larger task; from gardening to cleaning, it will all take more time and resource. Downsizing might be more practical, but how will the lack of space impact on you? Your utility bills might be cheaper but will you be compromising? Maybe you hadn’t considered the need for a spare bedroom or a utility space, what about the outside space? Or simply the fact you’ll be much closer to your neighbours. For many, the realisation can sometimes be quite an adjustment.

“Ultimately, the best time to upsize or downsize depends on personal circumstances. You have to be fully aware of market conditions, your budget, and be honest about your needs and requirements, otherwise you could stand to lose out financially and emotionally.”

 

Stuart Mills, Rickman properties

“In the London area over the past two/three years, we have seen prices softening, but this offers a fantastic opportunity to trade up to that dream house. When people sell, there is much focus on ‘what will I get for my house?’ It is an important question, but if you are planning to trade up to a more expensive property, is that actually the right question?

“For instance, if you have a property ‘worth’ say £1,000,000 and prices have dropped by 10%, this is now ‘worth £900,000 but you wish to buy a property that had a value of £1,750,000, and this too has dropped 10%, so is now available at £1,575,000. The gap between the 2 properties is £675,000. Had the prices been more stable, the gap would have been £750,000, so the saving now is £100,000.

“Equally, if prices are rising, again using 10%, we see the values being £1,100,000 and £1,925,000 respectively, a gap now of £825,000.

“This example shows how using a ‘poor market’ can be a great opportunity. Sometimes focusing on ‘how much can I get?’ is not the right question, when it should be, what is the difference I have to pay?”

 

Roger Wilkinson, Wilkinson Grant & Co

“Strong buyer demand, affordable lending, and stable house prices make this a perfect market for both up-sizers and down-sizers here in the South West.

“Whether looking to move to a larger property or seeking to move to a smaller, easier to manage home, stable prices make it easier to plan and healthy demand from buyers who can afford to borrow help make the current market fluid. Moving up or down the market, actual and purchase prices are less important than the price differential between the two.

“Across the country, it seems that stock is an issue and whilst this may mean that new homes developers are taking a larger share of the market, competition between them is keeping prices steady.

“This doesn’t mean that upsizers and down-sizers are so limited in choice though – it simply means that if they can’t find what they’re looking for, they need to work with an experienced local agent that provides a search and acquisition service.

“With over twenty years experience, dealing with thousands of homeowners, at any one time, we have hundreds of local people on our database who are looking to move – even though they are not on the market and advertised for sale.

 

Becky Evans, Mark Evans & Co

“Over the last 12 months, we have seen an increase in property prices and therefore increased equity for homeowners. This can make it an ideal time to downsize and cash in on your investment. Recently, I valued a four-bedroom detached property. The owners bought their home in 2015 for £266,000 and would now expect it to achieve £300,000. There are not many investments that will give you a return of £34,000 in 2 years. They were looking to sell and downsize to go mortgage free.

“The main reasons we find people choosing to downsize is to release equity, go mortgage free, or the property they are in may be bigger than what they need. I believe downsizing is one of the hardest moves a person can make as comprise is needed. Therefore, our advice would be to think about what you are prepared to comprise on. If you only want a specific location, you may have to comprise on the size of the property or if off road parking is a must for you, you may have to give up that extra bedroom.

 

Jared Thomas, Emsleys Estate Agents

“The market offers advantages at the moment for those looking to upsize or downsize. Since November 2017, first-time buyers have not needed to pay Stamp Duty Land Tax (SDLT) on properties priced up to £300,000, which will speed up the time it takes them to save for their first home. Mortgage rates are still at a historic low, making a bigger mortgage more affordable for many people.

“You might be looking to upsize to accommodate a growing family or to downsize to release capital, reduce outgoings or if your children have left home. Whatever the reason, I would advise you to book a professional valuation and speak to a mortgage advisor before selling your home.

“If you’d like to upsize; plan ahead. Perhaps you’d like to relocate to be closer to catchment areas for schools. Consider the timing of the school year when planning your move and allow for any delays in the chain.

“Those looking to downsize should be realistic about the amount of space you need. Ask yourself: are you using all the space you’ve got or have you simply expanded to fill it? You’ll also need to consider the factors which are important to you, such as public transport, facilities and the local community.”

 

Ben Whiting, Victorstone

“As the market cools off, opportunities can arise for those looking to up-size as larger properties come down in value more quickly than the lower end of the market, which is propped up by both first-time buyers and buy-to-let investors. This can create an opportunity for buyers to procure a large property at a lower price while still achieving a good price for their own.

“As the cost of living rises, down-sizing offers an opportunity to lower the running costs of your home and free up capital to spend on the refurbishment of a new, smaller property. The market has been rising for a number of years and, since 2016, has begun to cool, making this a good time to down-size, release large assets, cash in, and invest in a lower-value property, lowering your exposure to the market. With the cost-of-living rising, lowering your mortgage out-goings is always a wise move, too.”

 

Are you thinking of upsizing or downsizing? Contact your local Guild Member to start your property search.

 

Start you property search here with Joplings.