Thursday, 19 September 2019

Which month is busiest for Chichester’s estate agents?




September is often seen as a good time to sell property as the market is fresh from a summer holiday and busy with buyers looking to move in to a new home by Christmas. By looking at a monthly breakdown of property sales in Chichester for 2018, we can determine whether this is in fact accurate. It’ll also show which months are busiest for Chichester’s estate agents and whether there’s ever a good time for them to go on holiday!

Here’s the month-by-month property sales in Chichester for 2018:

January - 148
February - 136
March - 162
April - 129
May - 139
June - 187
July - 167
August - 182
September - 191
October - 177
November - 200
December - 171

So, November saw the highest number of property sales in Chichester compared to any other month in 2018. Bear in mind though that these figures (from Land Registry) are when a property sale is completed, rather than when it is first agreed between buyer and seller. With the legal process normally taking a couple of months, we can conclude that the highest number of sales are actually agreed in September.

Having looked at the figures for the past few years, I can confirm that the above pattern is typical of how the market flows throughout the year. It is reasonably steady throughout the year, rather than having wild ups and downs like some people might think. Things start off slow and build momentum as the year progresses, before tailing off again for Christmas and repeating the pattern into the darker, colder winter months.

As a side note, the totals above show there were 1,989 sales in the whole of 2018, which was 5% down compared to 2017, when 2,103 properties were sold in Chichester. Things slowed down even more at the start of 2019 though, with there being 18% fewer sales registered in the first third of the year compared to the same period twelve months prior.

Whilst the annual pattern may be the same then, it seems that Chichester’s property market, like much of the UK’s, is suffering from the general feeling of uncertainty. As the October 31st ‘Brexit deadline’ draws nearer, coinciding with the slowdown in the run-up to Christmas, it could be that Chichester’s estate agents are able to book some time off sooner rather than later and not miss out on too much of the action.

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