Quealy & Co Estate Agents in Kent are delighted to report that since the summer months conveyancing delays are starting to ease significantly. The average time it takes to complete, following sale agreed has dropped by 27 days since the summer.
According to Rightmove, it is taking just over four months, or 127 days, from a home sale being agreed until it completes, down from five months, or 154 days, in July.
The number of days to secure a buyer is also dropping. Back in January 2021 it took 65 days on average to secure a buyer in England. In October this had dropped to just 36 days. The lowest amount of time in over a year.
What about house prices?
The price of property coming to market has dropped by an average of 0.6% (-£2,044) compared to last month, the largest monthly fall since January 2021.
This pre-Christmas price lull aims to attract festively distracted buyers and offers a small window of opportunity for bargain hunters before the traditional Boxing Day buyer boom:
The number of people browsing properties on Rightmove during the post-Christmas Day festive period has been increasing every year, with visits on Boxing Day last year 54% higher than the previous year.
Agents report that many home-owners are getting their homes spruced up ready to sell and get to market in time to ride this new buyer wave. The number of people beginning the selling process by requesting a valuation from an estate agent via the Rightmove website was 14% higher in October than the same period last year, a sign of building momentum
With the current price lull expected to last until Christmas, buyers who have seen their affordability sorely stretched in 2021 may also benefit by securing a fixed-rate mortgage before the widely anticipated interest rate rise.
Make the most of the Rightmove Rush
Get in touch to discuss marketing your home in time for the post-Christmas Rightmove rush. It is the ideal time to spruce up your home and let Quealy & Co help you prepare for the huge influx of buyers looking to move in 2022 who visit Rightmove between Christmas and new year.