People looking to sell their property this year should act fast and take advantage of the annual August house sales boom, according to KIS Lettings.
Data from Land Registry revealed that over the last three years, 20% more homes were sold in August than the annual average and 30% more than average figures for January.
20% More Properties Sell in August
Between 2011-14, 224,231 properties were sold in the month of August, 76,917 more than those sold in the Januarys of the same years.
The difference in sales figures between January and August is especially prominent in the South West and Yorkshire and the Humber, where sales increased by 47%, and the North East and North West where they grew by 44%. In London, they rose by just 26%.
The research also indicates that August was the busiest month for estate agents in four of the past five years, with November 2013 the only exception.
Regarding the last three years, 87,173 properties were sold in August 2014, 15% more than the monthly average of 74,770 and 25% higher than the 63,123 sold in January 2014.
In August 2013, 74,767 homes were sold, 20% higher than the annual average of 60,060 and 45% more than the 41,763 sold in January of the same year.
62,291 properties were sold in August 2012, 19% over the annual average of 52,260 and 27% higher than the 42,511 sold in January 2012.
Ajay Jagota, Founder of KIS Lettings, comments on the findings: “These figures show that it’s not the estate agent equivalent of an old wives’ tale that people are more likely to buy a property when the sun is shining; the figures back it up.
“Here comes the sun and here come the buyers. If you’re looking to sell a house this year, the next four weeks could be vital in terms of getting your home looking its best in time for the August boom.
“The simplest and easiest way to market your property better is to take some fresh pictures. People are buying a lifestyle as much as a property, and in the era of property apps and online portals, people could only be considering your property for a fraction of a second. First impressions count.
“What really stands out though is that the all-round rise in sales volumes across the board over the last three years. 62,291 homes were sold in 2012’s peak month of August compared to 63,123 in last year’s slowest month of January. We’ve come a long way.”1