Autumn Property Market - what's in it for you?

AUTUMN PROPERTY MARKET – how will it affect your chances of selling?

The Autumn often represents the end of the busiest time of the year in the property market in this area, despite the weather usually remaining pleasant. Buying and selling continues, but the peak is predominantly over. (The reverse can be said of properties being marketed in Ski/Winter sport resorts/areas). So, what can potential buyers and sellers Autumn expect from the autumn market?

Property market seasonality tends to favour those in a position to buy with the onset of Autumn – a buyer’s market. Buyer competition notably declines after Summer. Many buyers have probably already completed by September/October, having started their search early Spring, being determined to enjoy some of the Summer in their new home. The element of ‘Summer searchers’ – the holiday makers who book viewings on the spur of the moment while on holiday, without real foundation to their search – is in the greater part removed from the equation. However, buyers continuing to look are usually serious… and very aware they may now have more negotiating power.

With less buyers actively viewing, seller competitiveness is key – the laws of supply and demand apply to the property market, as with any other. Sellers remaining on the market after summer must re-evaluate their current marketing strategy and in the main, their price. A revamp of your advertising and a suitable price drop may well give you the edge over your selling competition and attract the serious buyers still looking.

Don’t forget also, at any time of year, there will be ‘need’ buyers – those changing jobs, moving area for family and personal reasons. Life doesn’t stop just because Summer is at its end and savvy sellers work to attract buyers from all sources, not simply second home owners, retirees, or ‘ex-pats’. Equally, ‘need’ sellers coming to market in Autumn, would be best advised to start their property advertising on a really competitive footing, to achieve a timely sale.

It is all about market strategy for both buyers and sellers, so take a good hard look at your own strategy for completing your buying, or selling plan and adapt it to make the most of the Autumn opportunities.