We’re constantly hearing about the obvious things that affect the property market, for example; the economy, interest rates, inflation but there are also some other influences that we here at NetAnAgent.com have spotted that actually have a big impact.
Recently a lot of media outlets ran a story regarding property prices peaking. This is the headline from The Times Online : ‘House Prices 2022: why you have two weeks to sell if you want to hit the peak’ This caused a surge of interest and almost immediately a jump in listings on netanagent.com. This example had a short term impact and things settled back down afterwards, but it definitely encouraged people to get their properties on the market quicker that perhaps they were originally planning.
Covid was another thing that had a big impact on the property market, but probably not for the reasons we all thought it would. Obviously the government’s stamp duty holiday encouraged buyers to move, but property prices went up so much that those savings were swallowed up anyway. In the 2 years since the very first lockdown, property prices have risen on average a massive £47,000. If anything, it seemed like we were all expecting a crash in the market!
As well as the positive influences we have seen, we also noticed some negative ones too. For example, when Putin raised the prospect of nuclear war at the end of February , we saw a 30% drop in listings. This of course is understandable as life felt very uncertain, but things recovered relatively quickly.
We also see some negative influences at the same time every year, that you probably wouldn’t think of. The first few days of the school holidays always have an impact. Every half term and summer holiday we see a drop in our listings. Entertaining the kids, family holidays and days out are at the forefront of people’s minds during this time, not moving house!
Bad weather is another one that seems to deter people from thinking about moving. No one likes the idea of lugging boxes to a removal van when it’s snowing!
Lastly, large sporting events, for example; The Olympics and The World Cup. Every time there is a large national/international sporting event we see our listings dipping. We’re all too busy cheering on our country to be thinking about selling up and moving!
The great thing about netanagent.com is that even if you’re not ready to move, you can still register to get an idea of what the agents in your area are offering. There’s no obligation to instruct an agent and it’s completely free. Click HERE and register today!
*These examples are noticed trends from netanagent.com