How you can sell your house quickly in 2021
Selling your home may go through like an overwhelming prospect amid a sea of monetary chaos brought on by coronavirus pandemic. But you may be best acting sooner rather than later to bag a quick sale.
Pent-up interest in moves after lockdowns and restrictions and a stamp duty holiday on some homes have fueled the property market over recent months.
In this article Which? compares the latest property data and provides tips about how to sell your house quickly in 2021.
Should you sell your home next year?
If you’re sure about selling your home you’re better off acting at some point if you wish to sell quickly.
Around 130,000 sales were agreed over the past month, up by 44% on a single period in 2021, based on Rightmove’s House Prices Index for December. It notes there are 650,000 sales agreed and in the pipeline, round the same as November data.
This has largely been fuelled through the governments temporary stamp duty holiday. The breadth from the cuts vary from country-to-country, however they mean buyers could potentially conserve to lb15,000 in tax if they move home before April 2021.
But that momentum might not last.
Nick Leeming, Chairman of property firm Jackson-Stops, says: ‘The start of 2012 is traditionally a busy amount of time in the housing industry, with buyers and vendors alike using the festive period to organize for that year ahead.
‘However, we're expecting the very first months of 2021 to become particularly active as buyers try to squeeze within their deals before 31 March. Those looking to make savings on the stamp duty holiday must take action now, we're advising any serious house hunters to obtain their offers in by January latest.’
What’s happening to accommodate prices?
We're starting to obtain a clearer picture from the impact coronavirus has already established on house prices, but with the continuing stamp duty holiday and the prospect of continuing lockdown measures, figures could fluctuate significantly into the new year.
The most dependable barometer of house prices may be the Land Registry's UK House Price Index, that is based on sold properties. It works on a two-month lag, therefore the latest available figures are for September.
The Land Registry says the price of a house in the united kingdom increased by 1.7% month-on-month and 4.7% year-on-year in September, to achieve lb244,513.
Rightmove's index is much more up-to-date, but it is according to asking prices instead of sold prices. In December’s report, it found average prices had dropped by 0.6% month-on-month but risen by 6.6% year-on-year.
What will happen to house prices in 2021?
Rightmove forecasts a 4% national average price development in 2021.
Tim Bannister, Rightmove's director of property data says: ‘2021 has a lot of variables, and thus is not an easy someone to call, but we're certain that the housing market continues to outperform general expectations next year because it did this.’
He adds: ‘There's apt to be a lull in quarter two [April to June] unless the stamp duty holiday is extended, but for many buyers its removal will not be make or break, though often leads them to reduce their offers to a diploma to pay for that higher tax, and indeed many sellers might be ready to assistance to mitigate their buyer's financial loss.’
Did you fail to sell in 2021?
Selling your house can be a long, drawn-out process. However, the average time for you to sell of 52 days is a lot quicker than it was this time around this past year.
The chart below shows how many days it took for houses to be removed every month over a year to November 2021.
Don’t panic whether it takes slightly longer than the October and November averages – these numbers will largely be right down to the stamp duty holiday.
Though typically, if it’s taking you a lot longer than the averages above, you may be doing something wrong.
Your asking price could be excessive, which is why it’s vitally important to do a valuation on your home before using it the marketplace.
Talk to your estate agent about how exactly they’re marketing the property and whether or not this has any sort of characteristics that will make it hard to market.
You can find out more in our guide taking a look at typical selling problems and solutions.
Will Brexit allow it to be harder to sell?
Brexit has generated a large amount of uncertainty that could affect industries, markets and people in different ways.
How it will impact the property market in the long-term is tough to calculate.
While the stamp duty holiday is still active, it might continue being simpler to sell but the long-term results of Brexit aren’t apt to be seen for quite some time.
Generally, the advice from experts is to work hard right into a decision, then sell when it’s best for you.
Tips for selling your house in 2021
There are a few simple steps you are able to decide to try help sell your house quickly, regardless of what the economical outlook might be.
We’ve listed some suggestions below that may help you using the selling process.
1. Make your property look its best
Make sure your house is clean, tidy and free from clutter. This should give potential buyers a blank canvas to assume the way they would use the space.
This pertains to the outside of your property too. Ensure the front lawn and garden are tidy and presentable.
If your home is a little run down you could consider some small remodels – but you should get an estate agent’s opinion on this to ascertain if it’s worth the cost.
2. Be strategic on your asking price
You must do some investigation on how much your house is worth according to recent market activity in your town, and then invite local estate agents to value your home.
Some estate agents have been discovered to overvalue properties to win business, therefore we recommend speaking to several local agents.
Try not to be tempted to find the firm claiming they are able to get you thousands more if it seems unrealistic – this can put buyers removed from even visiting see the house to begin with.
3. Get the documents in order
If you receive your paperwork taken care of early, it will help things move along faster.
Check out our downloadable checklist for a list of all the documents you might need, and look for our help guide to energy performance certificates as you’ll need one to have the ability to sell.
4. Reassess in case your home isn’t selling
If your home continues to be on the market for some time and you haven’t received any offers, speak to your estate agent and obtain their take on what could be failing.
You might need to lower your price, or use better photos for that online listings or main image.
If you suspect the issue is your estate agent, most contracts include a set notice period, act fast if you want to switch agents so that your property isn’t left languishing available on the market for many extra weeks before another firm can relist it.
