Summary: Last summer saw 44,740 ‘new builds’ constructed in the UK – a 12% increase to the previous quarter. But, does this indicate a seasonal pattern in the property market? The REalyst digs deeper into the data to determine the extent of which seasonality plays in the market.
Read Time: 4 minutes
Is spring in the air? Will it be another scorcher of a summer? Will there be another Beast from the East this year? Does winter mean more new-build property developments going into construction? And, more importantly, do these seasonal questions really mean anything in the property industry?
Well, it turns out that the temperature outside isn’t the only aspect impacted by the four seasons of the year. For a while now, many have debated their effect on the property market.
There is an old-age question in the property industry that centres around when the best time of year to buy, sell, let or rent homes may be. Many a property expert has unpacked the data to look at transactions and to see whether there is indeed a correlation with seasonal and market patterns.
Spring is traditionally seen as the best time of year to sell your home, with one of the factors being that people typically emerge from their Christmas holidays feeling renewed and looking towards the year ahead. However, regional differences also come into play. In fact, the amount of particulars involved as to the reasons people decide to sell, and when they make these decisions, means that it is hard to attribute housing trends to any one particular aspect.
So, what do you do if you’re a property developer and want to build just in time for seasonal booms?
The Art of Property Development