The volume of family homes for sale has really decreased since the start of the first lockdown in March 2020.
Home schooling has meant parents have their plans to move on hold until the children are officially back at school.
Lack of family homes but high demand from buyers
The number of homebuyers is up 7% compared to the same time last year in 2020. Rightmove report a 45% rise in visits to their website.
But over the last four to six weeks, Rightmove report that year-on-year, the number of sellers is down by 21%. The biggest shortfall in housing stock is among family homes with parents faced with juggling home schooling with their own jobs.
That trend is one we are finding across our own areas of East Hampshire, Surrey/West Sussex borders.
Lockdown limits time to prepare your home for selling
Local families have had to put hopes of moving house on hold during lockdown while schools have remained closed. Preparing your home to sell can involve a bit of work, decorating, DIY, clearing out cupboards or the garage. But with parents preoccupied with both home schooling and many working from home, trying to get a home ready to sell and fit for viewings with more people at home all day can be challenging.
Back to school from 8th March – chance to get ahead and sell
Aside from the extension reported to the Stamp Duty holiday, details of which are still to be confirmed by the Chancellor in his budget on the 3rd March 2021, now that we have a roadmap working towards schools in England re-opening from the 8th March 2021, this could be the green light for selling your family home. Locally, we anticipate that from this date, demand and interest from families will be strong.
With it taking an average of around 76 days in the UK to agree a sale and property transactions averaging four to six months to complete, getting your house on the market now makes good sense for a busy family who just want to move on.
As the Government’s timescale for the vaccine rollout progresses, starting the process of selling now should allow you and your family to be settled in a new home ready for the start of the new school year in September.
Attract the buyers and beat the competition
Getting your home valued now and the marketing process underway, should mean your property stands out and faces less competition with fewer family homes up for sale. It also gives you enough time to investigate local schools if you’re moving into the area and to check on admissions policies.
One thing’s for sure after almost a year of being stuck at home, we all have a much clearer idea what space indoors and outside suits our family life best.