Those of you who read these Property Talks regularly will know how much I love my facts and figures. The trends in the property market can be followed year on year with activity levels and sales ebbing and flowing like the river levels in our area during these winter months.
Data analysts from Rightmove have confirmed that the months to list your property for sale with the highest sales success rate are February and March. In a study conducted from data between 2012 and current day it was found that 66% of property listed in February goes on to completion. February also has the quickest time to find a buyer for property on average, coming in at 51 days. This is a common trend for the beginning of the year with January matching the 51 day average and March and April recording 52 average days.
On an equally positive note the number of potential buyers contacting agents about property for sale is up 8% from this time last year and the number of sales agreed is up 15%. This falls in line with the sale successes we have been seeing throughout all of our branches.
More good news came in the form of the anticipated Bank of England interest rate cut to 4.5% with markets even predicting a further three cuts across the year. And first time buyers are further helped by the increase in low deposit mortgages available to the market. Mortgages with a 95% loan to value (meaning a buyer only has to find 5% of the purchase price for the deposit) are at a five year high meaning that the pool of property buyers is increasing as mortgage affordability is made more available.
With all these factors coming together its not difficult to see why once again we have seen a busy start to the new year – leading the way in property sales across the region in 2025. If you are looking at taking advantage of the most successful sales months of the year then why not talk to the most successful sales agent.
Get in touch with the team.