The summer beach wear has barely been packed away and Christmas displays are already in the shops .
It’s a timely reminder to those planning a move that, if you want to be in your new dream property by the end of the year, you really need to get your skates on.
Many people will have put off the inevitable until after the October half-term holiday but, with the current pace of the market in central Scotland, leaving things any later than the end of the month is already pushing it if you want to be opening your Christmas presents in your new home.
People are so desperate to move in some parts of the central belt, they’ve made it the UK’s fastest selling area, according to a new survey.
The findings by property portal Zoopla, showed that it took just 27 days for the average property in Glasgow to sell after being placed on the market – almost half the national average. In certain areas of the city, including the Southside and East Renfrewshire, the average sales time is much quicker. Our statistics for Jan-Jun show our average selling time was just 13.4 days.
In Edinburgh, the average sales time was 22 days, according to the Zoopla report. Another study showed that the Capital outperformed other major cities across the UK with high end home prices, defined as the top 10% of the market, rising by 10.5% year-over-year in the third quarter of 2018.
If you list your property on the market now, it’s priced correctly, and you’ve had a decent number of viewings, chances are you could be receiving offers by early November.
Factor in between three to four weeks for the conveyancing process – assuming you have a solicitor who’s on the ball and you’re not in a lengthy chain - and, all being well, you could be munching mince pies in your new home by mid-December.
Craig Smith, director of Glasgow-based estate agency The Scottish Property Centre, said: “Once the October break is over, most people who are serious about selling will be looking to Christmas as the next realistic deadline by which to have the process complete.
“Because of that, we will expect to see an upturn in the market over the next two months as more sales are completed and as momentum builds.
“With Glasgow and Edinburgh among the quickest locations for property sales in the UK, we anticipate both buyers and sellers will be quick out of the blocks to secure a sale before Christmas.”
If you’re not getting the level of interest in your property that you expected, and you’re keen to generate more viewings, the most likely culprit is price, according to Craig.
“While parts of central Scotland have seen significant price increases in the past year, every market has its limit,” he said.
“It may be tempting to price your property at a slightly higher level, hoping the momentum of the market will carry it along, but buyers are still price conscious, despite the buoyancy of the market.
“It’s always advisable to seek professional advice from an agent who knows the local market well if you want to avoid ending up with a property that’s stuck on the market for longer than it should.”
“This is easily avoidable by setting a realistic price at the outset – being competitive rather than overambitious. If you have a deadline that you’re keen to stick to it might be an idea to have your solicitor prepare all the paperwork in advance so that by the time you receive an acceptable offer, it’s all systems go.”.