Welcome to your April edition of the Fish Need Water newsletter!
Here’s what we’ve got coming up:
- Thinking of selling? Springtime is the best time!
- All the latest need-to-know news.
- Top tool: PanicGuard
When’s the best time to sell your property? Errr… right about NOW! (Unless…)
As you might already know, prices don’t just rise steadily throughout the year: there are peaks and troughs to factor in too. To give you an example, in November 2016 average prices in London were actually down compared to the previous six months, even though prices were up compared to November 2015.
If you’re thinking of selling your home (and you want to get the most money for your house by selling at the peak time of year), this is useful information to know!
The peaks and troughs of the housing market are actually fairly predictable – and they tend to follow the same pattern regardless of what’s going on with government legislation.
The general rule is: springtime is the best time to sell (followed by autumn), and summer and winter are the worst times.
But should you definitely get a wriggle on and put your property on the market pronto? Well, just to be difficult, we’re going to say that depends…
- If you’re moving up in the market, buying and selling at peak price could actually be worse for you: if the more expensive house you’re buying has increased by the same percentage, that leaves you worse off even if you pocketed more from your own sale.
- Remember that generalisations about sale prices are just that: generalisations. Major roadworks going on outside our house are going to have a negative effect on your house price (yes: even in spring), regardless of what the stats say.
- Generalisations also ignore your location. Boroughs, postcodes and even individual streets can buck the trend depending on what’s going on locally.
- If you’re not ready to sell, don’t. Rushing to put your home on the market could mean that it’s not in the best state to attract its top price anyway, and it could also rush you into finding your next home.
While it’s useful to know that selling in spring is likely to get you a good price, it’s only one factor. If you want to get the full picture of what’s likely to be best for your particular property, just call us on 020 3199 3492 and we’ll be happy to help.
Waltham Forest and Newham revealed as boroughs with fastest growth in the capital. London’s Olympic host boroughs are back on top.
Sealed bids and gazumping return to central London in boost for property market. Interest is most intense in the sub-£1 million bracket where stamp duty rates are lower, but also in the £3 million to £5 million range, with Chinese buyers particularly keen to invest.
£220,000: the price super-rich will pay to keep their privacy. For many, privacy is more important than tax.
MPs demand crackdown on illegal lets in London as Airbnb trend sparks “free-for-all”. Property owners can earn £1,800-a-week on average for a short-term let of a two-bedroom flat, compared to £620 for an assured shorthold tenancy.
Our useful tool of the month
PanicGuard is a great little app if you’re concerned about safety when out and about viewing properties. It contains a host of features, including:
- Choose a contact to get alerted if you activate the alarm.
- Have contacts track your journey so they know where you are.
- Set a timed alarm that only you can deactivate.
See you next month!