Market seasonality - Graham Lock, Housenetwork.co.uk

Housing market, where is the seasonality?

It’s coming up to the end of the year so here I am in my executive office, the SKY box and two large plasma screens are on standby ready for some MTV and Xbox action, well not quite all true but it’s the build up to Christmas and that normally means a slowdown in most areas of our business particularly in agreeing new sales for next years’ pipeline – Not this year!!

Our estate agency is as busy as it’s been all year round which is surprising but very welcome after the grizzly 2008 that brought many estate agents to their knees.

There used to be a pattern in the residential sales business and that was busy from January to May then quiet over the summer period followed by a boost in September. Not any more, it’s taken us by surprise and predicting the next direction isn’t easy.

It seems that the property market is changing all the time and is therefore becoming unpredictable, there are so many different opinions from the experts, some say prices are going to keep going up others still expect a huge crash so where does this leave the consumer who’s thinking of moving? In a difficult position it would appear as we are currently experiencing a drought in new property coming onto the market but together with a huge demand from would-be buyers it’s supporting current values.

We expect new listings to remain historically low over the next few months particularly with the run up to the general election which can often freeze people when considering big decisions such as moving house so if you are considering a move I would say now is the time to get the wheels in motion whilst the market is still strong and the election campaigns are relatively low key.

If you’re thinking about moving next year then my advice would be to keep an eye on house prices in your area over the coming months and also beware of a huge influx of property onto the market should activity begin to pick up, if this happens it could really have an impact on house prices which could well be a downward trend should supply begin to outstrip demand.

We still live in uncertain times economically and unemployment remains high, this is a vital component to keep an eye on as well as mortgage lending and interest rates in general which have a massive impact on the housing market.

So seasonality has disappeared from the property market for now, so don’t worry about what time of year is best to sell anymore, the goalposts has been moved, it’s about when is the best time economically to sell your house rather than what the weather is like outside your window or what you are used to being told. It’s time to change our perception of the normal housing market and to box clever and take advantages of the opportunities that the current market gives you.

I for one will be packing away my Xbox (for now) and getting back to business!

Graham Lock

Graham Lock, MNAEA, is co-founder of www.housenetwork.co.uk, a low cost nationwide estate agency which to date has sold over 2,700 properties using online marketing methods only whilst disregarding local newspaper advertising