Spring is in the air, and buyers are on the ground.
It’s that time of year again, the sun is starting to show its face, the daffodils are starting to appear, and people are beginning to smile again…. Spring is definitely on its way!
With the change in weather and mood, comes the desire for buyers and sellers alike to start thinking about moving before the summer and February and March are the key months where we as buyers agents, always see a significant upturn in market activity.
Recent analyses from various property platforms indicate that February and March are traditionally the most active months of the year in the UK housing market.
According to Rightmove, nearly 66.3% of homes listed during these months (since as far back as 2012) have successfully completed a sale, marking the highest success rate compared to other times of the year.
Additionally, February has the joint quickest average time to find a buyer at 51 days, alongside January, with March and April following closely at 52 days.
Zoopla’s data aligns with this trend, showing that the number of sales agreed in the first three months of 2024 was 7% higher compared to the same period in 2023.
The Royal Institution of Chartered Surveyors (RICS) also reported a significant uptick in new property listings in January 2025, reaching the highest level since September 2020.
This surge is attributed to lower mortgage rates, which have boosted market activity.
Despite these positive indicators, the market remains sensitive to pricing and external factors (what’s new?!).
Rightmove notes that while there is increased buyer demand, properties that are over-optimistically priced will take longer to sell.
Pricing and managing sellers expectations on value is always a job for the selling agents to manage and for OQO London remains the main challenge to overcome for our clients.
The traditional ‘Spring Market’ in the UK signals two things; more property supply entering the market and a significant increase in buyer demand.
But don’t think that an increase in stock necessarily means more choice.
Prime London assets are still highly sought after and competition for quality real estate in the city and home counties remains fierce.
Those with the financial means, such as cash buyers are in a strong position to cherry pick the best of the best, without the pressures of interest rates even factoring.
This time of year more than any other is when buyers are most active, and this is when you need to engage with a well-informed, professional buying agent to seek out and secure those opportunities ahead of the competition.
Entering the highly competitive spring market without a buyer’s agent on your side is like taking a spoon to a sword fight!
Be prepared, put yourself in the best possible buying position and contact OQO London to help you secure the property you want!
