Our latest research has highlighted that 17th March 2018 is the best day for homeowners to list their property with an agent to maximise their property sale potential.
We looked at which month saw the largest number of residential property transactions over the last year despite slower market conditions as a result of Brexit and the snap election. Summer is often the busiest time of year for the market and so its no surprise that June last year saw the largest number of residential transactions.
Using research by the Post Office on the average number of days to sell a home, we then backtracked the national average of 96 days from mid-June to highlight what day homeowners should list to hit the completions peak.
While the highest number of transactions across the nation remains fairly consistent between June, July and August, the number of days it takes to sell across each city differs by as much as 51 days between the slowest and quickest.
In London, the highest level of transactions last year was seen in June, however in current market conditions, the average time to sell is 111 days. Therefore, homeowners in the capital looking for a smooth sale in 2018 should list their home for sale on the 24th of this month for the best chance to find a buyer.
With 110 days on average to sell a home, homeowners in Swansea are also approaching the optimum day to list with the 25th February the best day to sell to hit the mid-June peak.
Similarly, in Hull it takes 101 days on average to sell, so listing on 6th March would see homeowners hit the June peak for completions.
It takes 86 days on average to sell a home in both Cardiff and Derby, and with both also seeing sales completions peak in June, the 21st March is the best day to list a home for sale in each city.
Bristol is home to the quickest number of days to sell at 61 on average and with the market peaking in August last year, they have plenty of time until 15th June to list their property.
While the market has already started to show signs of recovery after the uncertainty that has plagued it since our departure from the EU, the finer details of our exit are still far from decided. As a result, it’s likely that buyer interest may remain subdued over the coming year, and so those serious about a sale should ensure they put themselves in the best position possible to find a buyer.
The property selling process has been considerably streamlined thanks to the digital disruption of the traditional industry and although June may seem a long time away yet, those looking to hit the market peak should already be thinking about listing their home over the coming weeks.Russell Quirk