Now may be the perfect time to sell before market activity ramps up between now and autumn, according to new market analysis from eXp UK.
eXp UK analysed seasonal house price trends over the past five years across the market, to better understand when sellers were most likely to achieve the best price possible.
The data showed that winter was the worst time to sell a house over the past five years, due to low market activity resulting in the lowest average price of £241,046.
The market started to climb in the spring when, on average, prices increased by 0.7% to hit £242,824.
With the arrival of summer, the market was shown to climb again, this time by 2.7%, to reach an average price of £249,340.
The data suggested that sellers should get their house listed right away, because prices were set to rise by a further 1.6% as the market entered its autumn boom and the average price achieved peaked at £253,282.
Sellers missing this window could expect to see their price drop by -4.8% as the market’s seasonal cycle starts again.
Adam Day, head of eXp UK, said: “It’s no secret that the housing market is enduring a complicated time.
“The rising cost of mortgages is putting-off a lot of potential buyers and this slow market activity is acting to cool prices.
“But regardless of the conditions, there are always going to people who want or need to sell their property, and likewise people who want to buy.”
He added: “If you are one of those who needs to sell now despite the less than desirable economic backdrop, we would advise you to take the leap straight away instead of hesitating any longer.
“Our research indicates that prices are going to increase over the next couple of months before dropping again in winter.
“It may seem a long way away, but if you’re going to have a good chance of beating that winter flop, you need to get listed as soon as possible to give yourself ample time to attract a buyer and get the deal done.”
