Whilst spring is renowned as the time that sellers dust off their properties and place them on the market, this doesn’t mean it is necessarily the best time for you to go shopping!
One of the biggest issues with shopping in spring is the flood of other buyers looking to snag their dream home, which increases competition and housing prices.
There is typically a seasonal uplift in buyer numbers in last quarter of the year. This means the benefit of a higher number of options to choose from are offset by a higher number of prospective buyers. You may be better off when there are fewer buyers around in the winter months, at least from the perspective of being able to negotiate hard on price.
Although there is a lot more to look at during spring, there isn’t necessarily more to choose from, depending on your individual circumstances and finances.
It may be just as beneficial for you to look around during slower months, as this will give you more time to consider properties, more time to negotiate and to organise your loans.
Seasonal factors will always play a part in the dynamic of the housing market. But so too do other factors that are harder to anticipate such as changes in the economy.
Taking all of this into consideration, the best times to buy are as varied as the people looking. It is a good idea to assess what’s most important to you before following the crowd.
You are best positioned to use the timing that works best for you and your budget, rather than waiting for a particular time of the season where conditions might be more or less favourable.
Before you shop around for your new property, speak to us about how to get your pre-approval in place!