When to Sell
If you're thinking of selling your house, make sure that you plan well in advance. Contact estate agents around 3 months before you want to put your house on the market, as they will need to measure rooms, take photographs, design brochures and advertising - this will always take longer than you think.
The Property Market
Before putting your house up for sale, you should make sure that you investigate the state of the property market, as it's never a good idea to sell during a property slump, unless you absolutely have to. It may be more prudent to let your home long-term and wait until the market has recovered.
The property market in the UK has been booming over the last few years, with 33% of houses selling within 3 weeks, and 60% in less than 10 weeks. However, it is thought that the numerous recent interest-rate hikes seen in the UK will lead to the end of the property boom, and some experts predict that rises in house prices are expected to drop from well over 10% today to less than 1% by the end of 2008.
If you're moving abroad for a few years, it's better to maintain a foot on the property ladder, and let your home rather than sell it.
The Local Market
The number of other houses for sale might also affect the market in your area - too many 'for sale' boards in the street may ring alarm bells with prospective buyers.
Time of Year
Spring is usually the best time to sell (between March and May) and autumn can also be a good time. Having said that, a really good property can be sold anytime, although it may take a bit longer in mid-winter.
The following table will give you an approximate guide to the best and worst times of the year to put your house onto the market.
| Month | House Selling Prospects |
|---|---|
| January | Good, but better towards the end of the month |
| February | Great |
| March | Great |
| April | Great |
| May | Great |
| June | Great |
| July | Good, but will tend to tail off towards the end of the month |
| August | Bad |
| September | Poor at the start, but will tend to pick up in the last 3 weeks |
| October | Good |
| November | Good, but will tend to tail off towards the end of the month |
| December | Poor, and will tend to worsen during the last 2 weeks of the year |
