The latest research by hybrid estate agent Emoov.co.uk has found that 17th March 2018 is the best day for property owners to put their home on the market, to maximise their sale potential.
The agent looked at which month experienced the largest number of residential property transactions over the last year, despite slower marker conditions as a result of Brexit and the snap General Election. Summer is often the busiest time of year for the market, so it’s no surprise that June last year saw the greatest number of residential sales.
Using research from the Post Office on the average number of days to sell a home, Emoov then backtracked the national average of 96 days from mid-June to highlight which day property owners should put their homes on the market to hit the completions peak.
While the highest number of transactions across the nation remains fairly consistent between June, July and August, the number of days it takes to sell across each city differs by as much as 51 days.
In London, the highest level of transactions last year was recorded in June. However, in current market conditions, the average time to sell is 111 days. Therefore, property owners in the capital looking for a smooth sale in 2018 should list their home for sale on 24th February for the best chance to find a buyer.
With 110 days on average to sell a home, property owners in Swansea are also approaching the optimum day to list, at 25th February.
Similarly, in Hull, it takes 101 days on average to sell, so listing on 6th March would see property owners hit the June peak for completions.
It takes 86 days on average to sell a home in both Cardiff and Derby, and with both also seeing sales completions peak in June, 21st March is the best day to list a property for sale in each city.
Bristol is home to the quickest number of days to sell, at an average of 61 days, and, with the market peaking in August last year, property owners have plenty of time until 15th June to list their homes.
Russell Quirk, the Founder and CEO of Emoov, comments: “While the market has already started to show signs of recovery after the uncertainty that has plagued it since our departure from the EU, the finer details of our exit are still far from decided. As a result, it’s likely that buyer interest may remain subdued over the coming year, and so those serious about a sale should ensure they put themselves in the best position possible to find a buyer.
“The property selling process has been considerably streamlined thanks to the digital disruption of the traditional industry and, although June may seem a long time away yet, those looking to hit the market peak should already be thinking about listing their home over the coming weeks.”
Landlords, if you’re looking to unload some of your properties, use this research as an indication of when you need to list your homes onto the sales market.