"Different times of the year appeal to different types of buyers, so you should be strategic with selling your property"
Research by Rightmove suggests that demand is improving, and sellers are becoming more realistic about their pricing.
Although mortgage rates have been decreasing over the last few months, they remain elevated which begs the question of whether now is a good time to purchase a house.
For some homeowners, choosing when to put their house on the market is unlikely to be a tactical decision. More often, it will come down to personal or practical reasons.
However, there are certain times of the year when selling a property is easier and less stressful, compared to other times of the year.
Tim Leonard, a personal finance expert at NerdWallet, has revealed the best and worst times of the year to sell your home and why:
The best time of year to sell
“Spring is by far the best time of the year to sell your home, according to research from Rightmove. There are many factors that go into this, but March is the strongest month of the year for prospective sellers to join the market.
“For four out of the past five years, March has had the highest number of buyer enquiries per property for sale - and the exception was in 2020 when the housing market was shut down. April is the next strongest month of the year, followed by May.
“One of the reasons why spring is the best time of year to sell a property is due to the weather significantly improving after the cold and miserable winter months. The amount of daylight increases and the more commonly occurring natural sunlight helps rooms in the property look their best for photos and viewings.
“The brighter weather is also likely to provide a better showcase for properties that have gardens.
“If the spring doesn’t fit with your plans, autumn is a close second. Homeowners will be back off their summer holidays, but will want to sell their current home and move into their new one before they start planning for the busy festive season in December.”
The worst time of year to sell
“There isn’t a definitive worst time of year to sell your home, as the month with the least amount of sales changes yearly. That being said, property sales do tend to drop in summer, despite it being a favourite season for many. Sales usually drop in August due to the summer holidays, when many people jet off abroad and the kids are off for the school holidays, meaning parents have other priorities.
“Another particularly poor time of year to sell is in the winter, with December usually being one of the worst months for property sales, alongside August. This might be due to people focusing on financing Christmas, and prioritising the festivities over moving.”
Attracting buyers at the right time
“It’s always worth thinking about the kind of buyer your property might attract to try and work out the best time of year to sell. Different times of the year appeal to different types of buyers, so you should be strategic with selling your property.
“For example, if you are selling a one or two-bedroom flat, this type of property will attract first-time buyers and young couples looking to get on the property ladder. In January, they might be inspired by the new year and want to make the next step in their lives by searching for their next home.
“Alternatively, if you have a bungalow to sell, this might appeal more to someone later in life, and potentially retired, or close to retirement age. Some older buyers might favour moving when it isn’t cold and dark, making spring or summer perhaps a better time to try and sell a property like this.
“All in all, there will always be people looking to buy properties year-round. However, if you think about these factors carefully, choosing the right time of year to sell could help make the whole process much quicker and easier.”
