Investing in real estate or commercial property is a big undertaking. It requires extensive research and forethought before making a purchase. There are many factors to consider such as the suitability of the property, its location, and how much further work is needed before it can be operational. These details are so important that people often forget to look at the smaller details that can make the difference between a good or a bad deal. Whether you’re looking for a new home or for commercial property for sale, you need to consider the timing. You need to consider the general strength of the market and to look at the political and economic context before you jump in. Beyond those large issues, you also want to consider the time of year. The changing of the seasons also brings changes to the property market. Here are how the seasons affect the market.
Spring
Once we get to March, the weather has improved, and people’s finances have recovered from Christmas. This creates a big boost in property sales, pushing prices up. The warmer weather makes the hassle of moving seem less daunting, it also makes the properties you view look more attractive and enticing. If you’re looking for a commercial property for sale, spring is often the best time. There are a larger number of properties available and you should be able to complete by the summer when people are looking to try new things.
As we move into April, we hit peak property buying season, which will continue into May and June too. The nicer weather makes it a great time to move. Spring has traditionally been a time of rebirth and new beginnings, so can seem like the perfect time to move into a new home or start a new business venture. However, the increased interest will push prices up and make a seller’s market.
Summer
You might think the continually improving weather might increase property transactions from the spring, going into summer. However, summer brings new expenses and new distractions. In July and August, many people are using their money to pay for holidays rather than buying property. Alongside that, with children on their summer holidays from school, this can bring added stress and pressure on people’s time. Early and mid-summer often see a dip in property transactions.
By September most people have had their holidays and the kids are back at school. This month can see property transactions pick up again as life returns to a normal and consistent schedule.
Autumn
After the September bump, property transactions and prices drop as we move into the cooler months. The nights are drawing in and the summer sun quickly becomes a distant memory. This change in the seasons can put people off making a move. A warm October can be a good time to buy as the decrease in interest can lower prices, but there should still be time to complete a purchase before the holidays. As November and December come around the desire to buy new property decreases as people focus on having money and stability for Christmas.
Winter
At this time of the year the property market can slow to almost a complete standstill. The weather is often horrid and there are very few hours of daylight. The idea of upending your life to move home seems less than ideal. Equally, starting a new business at this time of year is less popular as customers are not in the frame of mind to explore and try new things.
In January most people are still feeling the financial pressure of Christmas, so aren’t looking to make any big investments. This can continue into February but will slowly pick up as the weather warms and we return to spring.
