As we start to batten down the hatches and get the home fires burning for the cosy winter months ahead, does this mean the property market goes to sleep until next year?
Well, not quite…! There is no doubt the number of new instructions launched to the open market will dwindle and most sellers will wait for early Spring before launching their properties officially to the market. However, November through to February can be an active few months. Selling agents will be pitching for possible new Spring instructions, and buying agents may be alerted of properties which will be coming up for sale as well as those which may be available off-market.
The property market is all about certainty and confidence. Many sellers and buyers have been sitting on the fence this Autumn as they wait for the outcome of the October budget. The outcome will be clear by November and people can plan accordingly. The Christmas period is also a time for many plans to be discussed as a family, and decisions made as to whether 2025 is going to be their year to move.
As an active local Cotswold buying agent, I get to hear about these opportunities, with some potential sellers approaching me directly to see if I may have anyone suitable for their homes. There is a growing appetite for properties to be offered ‘off-market’ particularly at the higher end of the market, as it means there is no internet trail, owners can retain some privacy, and it can be a way of testing the market.
So, what can you do in the winter months if you are looking to buy? Firstly, get your ducks in a row! Get your finances confirmed, your solicitor instructed and work on those key points of your planned move. Spend time checking out possible locations, get a feel for the local communities and try out the associated commutes relevant to you, such as to work and school. Consider working with a buying agent and instruct them sooner rather than later. As mentioned, they will get the heads up of possible opportunities before you may be able to find them on the property portals online, if at all.
The winter months are also actually a really good time to view – if you like a house on a cold wet winter’s day, imagine it on a bright summer’s day! It is a great time to see if there are any signs of damp, how the land is faring if it has been particularly wet and to test any required commutes on a dark morning or evening from the property.
If you are thinking of selling, I would suggest that professional photographs are not taken until the better weather arrives; use the winter months to get the house in order – declutter, refresh with a lick of paint, make any repairs, tackle those maintenance projects and enhance the curb appeal. Invite around three agents who have a track record in the area for selling similar properties to provide you with a valuation. Appoint your chosen estate agent and a solicitor to get the legal paperwork in order. Consider allowing your agent to introduce a few ‘hot’ buyers off market i.e. those who are proceedable and ready to go. This is a great way to glean initial feedback on your property and the price before it goes live to the market, and you may even find your buyer!
The winter months do not need to be about pressing snooze on any progress on your sale or purchase – they can be quite the opposite. Preparation, doing your homework now and putting the right team in place will help your purchase and / or sale be less stressful and more successful… and you never know, with the right buying agent searching on your behalf, the right property may appear, allowing you to enjoy the spring and summer months in your new home!
Hannah Edge helps clients find their dream home and gets them one step ahead of the competition, whether it be a family house, second home, farm or equestrian property. If you would like to discuss your move, do contact her on 07833 431117 or hannah@cotswoldpropertyfinder.co.uk
