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The Christmas fade

13 Dec 2020
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The Christmas fade

This week in five seconds

  • Overall decline in activity
  • Property still going under offer as buyers keen to secure Stamp Duty break
  • Vendors consider whether it is worth listing before Christmas
  • Solicitors totally jammed

Overall decline in activity

This week has been extremely varied in relation to listings and viewing activity. Some areas still showing good levels of activity, particularly those that are just outside highly populated areas, offering buyers properties with more space but still the ability to commute in, subject to being required to do so.

Overall the market has been in a steady decline in activity since September.  New listings per day are 50% lower than the peak in September and stock available for sale is down 13% meaning buyers have a lot less to choose from and less new options being presented.

Daily sales levels are down 36% since September and prices have remained robust as this combination of less property available for sale and keen buyers wanting to utilise the Stamp Duty break has supported the market. 

Should you list before Christmas?

This week has been slower with many vendors considering the advantages and disadvantages of listing before Christmas. 

List now if you are realistic on price.  For vendors that are keen to list now in an attempt to catch the very last opportunity of the stamp duty holiday some agents are advising an aggressive pricing strategy: listing properties at a competitive guide price range or even offers in excess of. We are seeing great results from those agents that pitch this right.

For those that do pursue this strategy, in the event you are not under offer by the New Year we can dual list you with a new agent in early January allowing you to still catch the January bump too.

Wait if you want a high price.  If you are wanting an ambitious price for your property our advice would be to wait and list at the beginning of January.

Here's our article "When is the best time to sell" on why January is a great time to list.

Solicitors jammed

We have had another week of battling with the solicitors backlog of agreed sales. It is more important than ever that you ensure your paperwork for sale is all ready to go whilst your property is on the market. Solicitors are so overwhelmed with their workload they don’t have time to chase clients for standard forms required for sale.

 

Have a great Sunday evening.

The Movewise Team.

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