Carsten Swift, Associate at Knight Frank talks us through the recent analysis from Knight Frank and why it suggests that May is the best month to sell a UK residential property.
When is the best time to sell a property?
Analysis from Knight Frank has shown that on average the month of May sees more properties go under offer than any other month.
The data (averaged sold subject to contract ‘SSTC’ figures from 2015-2018) shows that almost 10% of homes in the UK are sold in May with second and third busiest months in July and April respectively.
Grainne Gilmore, Head of UK Residential Research, Knight Frank:
“With May approaching, the data suggests that now is the time to act if you wish to hit the sweet spot for selling."
The number of people registering interest in buying a property is continuing to grow, and vendors keen to sell may be well placed as agents report correctly priced homes are gaining strong interest.
In many locations around the UK there are many more buyers than there are new homes coming to the market, so despite the uncertainty around Brexit and wider market conditions, there are some lucrative sales being made by savvy sellers.
Christopher Dawe, Partner, Country Business, Knight Frank:
“Trying to convince someone to move house during the depths of winter isn’t easy, which is why the property market springs to life as soon as the weather starts to improve.
House hunting during the spring comes with a sense of romance that you don’t quite find in the winter months. Being able to amble around your new prospective neighbourhood, check out the local pub, and enjoy the life and colour that comes with the spring-time, makes house hunting a popular pursuit during the month of May.
Which is the best month to sell a property?
Properties sold subject to contract, monthly % share of annual total (2015-2018 data)
Source: Knight Frank and Rightmove
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