Why summer is a good time to sell your home

Selling property in the summer season will always remain a smart move, as the warm season offers several advantages that can help you secure a great sale. When selling your home, timing isn’t always an important factor, as you ideally want to move when the time is right for you, but if you’re looking to maximise your property’s return on investment, you should time the market right. We discuss several reasons why summer is an incredible time to sell your home.

1. Increased buyer activity

When choosing the right time to sell your home, the market’s performance is a major factor to consider. Year after year, a surge of buyer activity always appears in the summer, making it an excellent time to put your property on the market. Summer typically sees an increase in potential buyers with families, as they plan to move while the children are on their summer holidays.

2. Good kerb appeal   

The weather in summer in the UK creates the best conditions to showcase the outside of your property. This allows you to make your garden a key selling point, so take advantage of the shining sun that will highlight amazing features of your home, ensuring you keep your garden well-manicured and your outdoor area inviting. By showcasing your outdoor area and boosting your kerb appeal, you are most likely to attract more interest, which could lead to higher value offers.

3. Higher selling prices

Property prices tend to increase slightly in the summer due to increased market competition. If you want to maximise your property’s return on investment, summer is the best time to sell your home. The increased demand during the summer leads to more competitive prices as the urgency to move before the summer season is over is real, leading to more favourable offers.

4. Convenient moving weather 

The summer season creates the perfect weather to move, allowing you to skip the rain and potential delays caused by bad weather. Packing, transporting, and unpacking your belongings in your new home will never be as simple as in the sunshine.

5. More market insight

An increase in sales and activity in the property market will enable a local expert agent to provide you and your property with more competitive pricing. A greater number of property sales will enable a more accurate valuation of your home, as there is a larger margin for comparison. 

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Today marked a historic moment as King Charles III delivered his first speech, outlining the government’s priorities for the upcoming year. Among the key announcements were significant reforms impacting the rental and property sectors. Let’s delve into the three major takeaways that should be on every letting agent and landlord’s radar.

 Renters (Reform) Bill: A Balancing Act

The speech reiterated the government’s commitment to the Renters (Reform) Bill, signalling a renewed focus on the rights of tenants and the concerns of landlords. A notable highlight is the pledge to abolish Section 21, commonly known as “no-fault evictions,” a commitment that has been in the spotlight since the Queen’s Speech in 2019.

However, the timeline for implementation remains uncertain. The King’s Speech provided no further clarity on the criteria and deadlines for the significant court process reforms required before Section 21 can be abolished. Letting agents and landlords should stay vigilant for updates, as these changes will reshape the dynamics of the rental market.

Leasehold Bill: A Path to Fairness

King Charles III emphasised the government’s dedication to making homeownership more accessible by introducing a Leasehold Bill. The proposed reforms aim to streamline the process of buying the leasehold of a property and alleviate the burden of “punitive” service charges.

Estate agents need to monitor the legislative landscape, anticipating reforms such as simplified procedures for leaseholders to purchase the freehold or extend their leasehold. The introduction of a cap on ground rent at 0.1% of the freehold value could transform the leasehold market, while changes to ownership requirements may lead to a future where all houses are sold as freehold.

Net Zero and Energy Efficiency: A Green Commitment

The government’s unwavering commitment to achieving Net Zero emissions by 2025 is a pledge with broad implications, including significant changes in the property sector. King Charles III expressed the government’s desire to “safeguard energy independence” and invest in renewable energy sources.

For landlords and homeowners, the initial requirement to upgrade properties to an EPC C rating by 2025 on new tenancies, and 2028 for all tenancies, faced a revision in September 2023. Prime Minister Rishi Sunak announced the relaxation of these targets, relieving landlords and homeowners from the original deadlines. However, the commitment to energy efficiency and the transition to renewable sources remains a focal point in the government’s agenda.

As we navigate through this new era under King Charles III, the landscape of the property market is set to undergo significant transformations. Letting agents and landlords must stay informed and adapt to these changes to ensure a smooth transition into a more tenant-friendly, fair, and sustainable future.

 

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