Debating a house move can rely on multiple factors, but the number of weeks the average property transaction is taking in 2022 needs to be considered; especially if you’re looking to move before Christmas.
Ah the C word. Yes, we know it’s only July.
But with more and more homemovers already stating they’d like to be settled in their new homes before the festive season is in full swing, now is the time to be thinking about getting your property on the market.
2022 has been a crazy year for the property market, with 1 in 3 sales going for over the asking prices and prices up in general a whopping 12% on average across Chichester, Bognor Regis, Arundel and the Six Villages. This is great news for sellers. But as with any busy market, the sheer volume of sales is creating a backlog in the conveyancing process.
According to Rightmove, there are currently more than half a million homes sold subject to contract, which is a huge 44% more than in 2019. Conveyancers are having to try and keep up with this increase in property sales and, as such, there is a delay in the time it’s taking to push sales through to completion (the date when you get the keys to your new home!) to around 20 weeks.
A lot of people want to move home and most of them want to move home before Christmas. To give yourself the best chance of moving home before December, take a look at our article on how to speed up the sales process.
Here’s an overview:
- Get your mortgage in principle before you begin looking for your next home
- Instruct your agent once you’re aware of your budget and simultaneously market your home while looking for your next one
- Instruct your conveyancer at the same time you instruct your agent
- Get as much paperwork done as possible in the early stages of marketing your home
- Make sure everyone is aware of the dates you’re working towards
Sims Williams are independent estate agents in Chichester, Bognor Regis, Arundel and the Six Villages. For advice on achieving the best possible price for your property in a timescale that works for you, book an appraisal with your local branch.