Low levels of housing stock could mean good news for those looking to sell their homes before Christmas this year, as the latest market analysis suggests that there is still time, but you'll need to move quickly.
According to a new study from HomeOwners Alliance, prospective home-sellers will need to have their property on the market by Wednesday 2nd November in order to make the Christmas sale deadline.
Data from HomeOwners Alliance’s Find an Estate Agent also offers insight into the time it takes to sell a residential property. In 2021, properties took an average of 52 days to sell. Over the past seven years, homes have taken an average of 63 days to sell, making 2021 - where selling took 52 days - the speediest year ever.
This trend is set to continue in 2022 which is why homeowners need to list by 2nd November if they want to sell by Christmas.
The HomeOwners Alliance shares its tips for speeding up your sale:
1. Appoint a great estate agent. A good starting point is Find an Estate Agent, which ranks your local estate agents by how successful they are at selling quickly and securing the asking price, and how much they charge.
2. Set up your solicitor. Instruct a conveyancing solicitor early and start pulling paperwork together now if you want to secure a quick sale.
3. Get your house ready for sale. If there are any issues that might come up in a survey and delay the move, consider fixing them now. And as the winter months approach, make sure your home doesn’t look too dark – it is vital to let in light with lamps, candles and mirrors.
4. Let your agent take the lead. Let your estate agent lead viewings and tackle any tricky questions. And let them advise on negotiations; going to sealed bids to secure the best price is a popular option in today’s sellers’ market.
5. Choose the right buyer - everyone wants to get the best price, but if you want to sell quickly as well, then opt for a chain-free buyer who isn’t relying on selling their home to buy yours.
Paula Higgins, Chief Executive of HomeOwners Alliance, said: “The speed of sale in 2021 and year to date 2022 has been much faster than in recent years. This is likely due to a shortage of homes for sale. Still, to agree a sale by Christmas, you need to list your home by November at the latest. Homeowners worried about rising mortgage rates may wish to make their planned move sooner rather than later and take advantage of the stamp duty cuts announced."
Source:- https://www.propertyreporter.co.uk/property/is-there-still-time-to-sell-your-home-by-christmas.html