To Sell or Not to Sell in 2010?

Monday, 23 November 2009 16:54

Will prices go up and when is the best time to make a move during election year?

A General Election will usually affect the housing market, with activity traditionally slower during the run up to the election. Sam Butler, senior partner at Cotswolds property specialist Butler Sherborn, says: ‘Those wanting to sell their home next year should not let the election put them off, nor should they wait another six to twelve months in the hope of seeing a significant increase in the value of their property.

‘I have seen no evidence of house prices in the Cotswolds rising over the past 18 months. The recovery will be steady but slow for the next 18 months. The market has improved in that there is greater turnover (a larger number of transactions) but prices have not generally increased. Buyers’ confidence is fragile and they are easily put off by aggressive prices or deadlines.

‘I also see no clear advantage in adopting a ‘wait and see’ tactic; don’t hold back for an extra ten per cent, you are unlikely to get it. However, if you put your house on the market in 2010 at a realistic price, you should find a buyer, as seller and buyer expectations are closer now than they have been for many years.

‘I’d recommend the best time to market your house is either early in the New Year with a view to selling well before the General Election, or from mid to late May when election-fever calms.

‘While timing is important, it is also essential to ensure you have everything in hand for a clean swift sale. Buyers can be nervous so don’t give them a reason to pull out. Preparation is everything. Take a long critical look at your home; imagine you are viewing it for the first time from a buyer’s point of view.

‘First impressions count. Do all those tidying jobs you’ve been putting off. Outside, this means filling in the potholes in the drive, mending damaged fences and sorting out the garden so it is always presentable for viewings at short notice. Inside, de-clutter and decorate if it needs it.’