Member Article

20% more homes are sold in August

People hoping to sell their house this year should act fast to take advantage of an annual August boom – that’s the advice of one property expert.

Analysis of official Land Registry figures by leading sales and lettings firm KIS show that over the last three years 20% more homes have been sold in August than the annual average, and 30% more than average figures for January.

Between 2011 and 2014 224,231 homes were sold in the month of August, 76,917 more than the number sold in the respective Januarys.

The difference in sales between January and August is particularly striking in the South West and Yorkshire and the Humber, where sales volumes rose by 47% and the North East and North West, where they rose by 44% - compared to a rise of 26% in London.

The research also shows that August was the busiest month for Estate Agents in four of the last five years, the only exception being November 2013.

• 87,173 UK homes were sold in August 2014, 15% higher than the monthly average of 74,770 and 27% higher than the 63,123 sold in January.
• 74,767 homes were sold in August 2013, 20% higher than the annual average of 60,060 and 45% higher than the 41,763 sold in January.
• 62,291 homes were sold in August 2012, 19% higher than the annual average of 52,260 and 27% higher than the 42,511 sold in January.

The UK’s most innovative property firm, KIS is famous for being the first letting agents in the UK to abolish deposits, replacing them with a one-of-a-kind landlord insurance policy offering guaranteed rent, deposit replacement, legal assistance and round the clock third party emergency home repairs.

Founder and Chief Executive Officer Ajay Jagota said:

“These figures show that it’s not the Estate Agent equivalent of an old wives tale that people are more likely to buy a property when the sun is shining – the figures back it up.

“Here comes the sun, and here come the buyers – if you’re looking to sell a house this year, the next four weeks could be vital in terms of getting your home looking it’s best in time for the August boom.

“The simplest and easiest way to market your property better is to take some fresh pictures. People are buying a lifestyle as much as a property, and in the era of property apps and online portals people could only be considering your property for a fraction of a second. First impressions count.

“What really stands out though is the all-round rise in sales volumes across the board over the last three years. 62,291 homes were sold in 2012’s peak month of August compared to 63,123 in last year’s slowest month of January. We’ve come along way”.

This was posted in Bdaily's Members' News section by Ajay Jagota .