There’s no denying it: the housing market is hot property at the moment.
With prices having climbed to new heights - by an average of £40,000 in the two years since the Covid-19 pandemic - the foundations are laid for 2022 being no exception to this snowballing growth.
So far, January to February of this year has played host to the biggest and most prevalent rise in house prices in over 20 years, with the average house price shooting up by £7,785, making the average UK house price now a record high of £348,804.
Two decades’ growth in two years is a remarkable yield, but will prices continue to climb?
For the immediate future, it seems, the answer is a resounding ‘yes!’. After years of successive lockdowns and people spending far more time cooped up in their homes than they have in the past, it’s no wonder that many of us have been climbing the walls - and eyeing up new ones online.
With Covid restrictions being completely lifted across the nation on February 24th, more properties look set to come into the market, creating more positivity which contributes towards growth in sold prices..
So, with that in mind, when is the best time to sell your house?
More haste, more space
You might think it would pay to press pause on listing your property and let the value increase organically over time as the market expands, but the trajectory of sustained trends tells a different story; people are eager to upsize and they’re in a hurry to do it.
Those who are more cynical about the growth of property prices tend to say that "it's all relative". If their property price is going up, then so is the one they are buying. If you were swapping like-for-like then this is true, however a rising market is a great time to sell a property you have spent years improving, pull out the equity and make another good purchase. After all, property professionals know that you make money when you buy, not when you sell.
Historically, the best time to sell a house is in Spring. More specifically, March is the optimal time to list your property.
With the exception of March 2020, when we were all sitting at home watching the news through our fingers and wondering how often we’d have to hear the phrase ‘in these unprecedented times’, March is typically when most properties come onto the market.
Whether it’s the thawing weather, the budding blooms or the realisation that a spring clean of your current property isn't quite going to cut it, March is the ideal time to list it. With far more buyers than properties available at present, you’re much more likely to sell your property quickly and for a great price.
According to the latest projections, sellers can expect to make a profit of £100,000 in 2022 on an average family home.
Why wait? There’s never been a better time to sell your home, so get in touch if you’d like to take advantage of the current market and list your property today.