Midwinter often brings a slowdown in the housing market as buyers and sellers shift their focus to other priorities, making house moves less of a concern. The period between November and Boxing Day typically sees a dip in housing activity, with fewer enquiries, properties entering the market, and a slight decline in average house prices. This mirrors the traditional summer lull, when holidays take precedence.
However, what’s notable about this winter slump is how quickly it reverses. As the new year dawns, interest in the housing market surges. This uptick can begin as early as Boxing Day, and by January, people are seriously considering their plans for the year ahead. Sellers often take this time to prepare their homes for the market, anticipating warmer and brighter days to attract potential buyers.
The home-buying process, though, isn’t instantaneous. It often begins with speculative searches during the post-holiday period. As buyers identify homes that meet their criteria, activity gradually picks up, setting the stage for increased market momentum.
Traditionally, May is the peak month for buying activity. By this time, buyers have had the opportunity to refine their needs, secure financing, and navigate conveyancing requirements. However, while May might be the busiest for completed sales, the best time to start the process of buying or selling is early in the new year.
Engaging with an estate agent in January allows buyers to clarify their goals and sellers to prepare their properties, ensuring they’re well-positioned for the surge in activity as the year progresses.