If you are thinking of buying a new home, it is worth considering that different times of the year are busier than others, and that impacts both the choice you will have and the price you will pay.
Whether you are looking for a property in Kingston, Wimbledon or Wandsworth, you’ll want to get the best value for your money. Understanding the different factors that influence property prices will help you to decide the best time to buy.
The best time to buy a property is when there is plenty of stock and few buyers, as you are more likely to find your perfect home and get the best deal. If few houses are available, you could end up in a bidding war with other buyers. Figuring out the best time of the year to buy a home can pay off, whether that’s in the form of securing a favourable deal or finding your perfect property.
Several factors impact the ebb and flow of the property market.
Spring is an excellent time of year to buy a new home because there are many properties on the market. Not only will you have more choice, but sales at this time of year go through quicker as everyone is eager to complete before the summer.
August is a quiet month as people, especially families, head off on holiday. After spring, September is the second most popular time for sellers to list their properties.
Mid-November and December are generally slow for the property market as nobody wants to move over Christmas. Sellers typically hold off coming to market until the new year, and buyer activity drops significantly in the run-up to Christmas.
Many properties are put onto the market in January, often due to New Year Resolutions to sell or vendors looking for a lifestyle change.
The market for family homes is most active outside school holidays. Families looking to move to a new area with school-age children often choose spring to start house-hunting to time their move for the school summer holidays.
The housing market is also affected by the state of the economy, interest rates and inflation. At the end of 2023 and going into the beginning of 2024, interest rates hit a 16-year high of 5.25%, which slowed the housing market down.
Due to a decrease in inflation, the Bank of England made several base rate cuts in the second half of 2024 and then announced the lowest rate in 18 months – 4.5% in February 2025.
Finance experts are predicting further interest rate cuts, which means buyers are less likely to be cautious about high interest rates. When interest rates are lower, there is likely to be a higher buyer demand, which often increases house prices.
The housing market in specific areas can vary significantly across the UK. Factors such population growth, infrastructure investment and regeneration projects can all impact the local housing market. Increased employment opportunities when new business premises open in an area can also make a location a more desirable place to live.
If new schools are built or local schools see an improvement in quality (Outstanding Ofsted reports for example), this can also increase the demand for properties in the area. Conversely, if a local area experiences higher crime rates, fewer job opportunities or declining schools and amenities, the demand for properties can decrease.
Securing a favourable deal depends more on the seller’s situation than the time of year. Sellers who need to move quickly are more likely to accept a low offer. For this reason, November and December can be a good time to get a bargain. Sellers who are under no pressure to move often delist their properties with a view to re-launching in the new year. Those who remain are keen to sell their property and may accept a lower price.
Spring is a busy time in the property market for buyers and sellers, and often bidding wars lead to homes selling for more than their asking price. Buyers available during July and August can find they snap up a bargain on a house that failed to sell in spring.
If you want plenty of choices and are prepared to pay for your dream house, April to June is when you will find the most options as a buyer.
There are more homes on the market in spring than at any other time of the year. However, there are also more buyers, which equates to more competition. Though there are more homes to choose from in spring, expect the price tag to be higher than homes listed in the colder months.
When you are buying and selling at the same time, the best time to sell will depend on your circumstances. If you are buying a more expensive property, the better time to buy and sell will be when house prices are lower. If you are downsizing to lower value property, the best time to buy and sell will be when you can achieve the highest price for the home you are selling.
If you are buying and selling properties that are of similar values, then all the other factors we’ve covered in this blog will help you to decide when the best time to buy and sell will be.
If you are looking to buy a new build, there are certain times when you can usually negotiate a better price. For example, when buying off-plan, which is before the property is built, you can sometimes get a better price. As the development project progresses, the interest from buyers will often grow, pushing values up.
Another prime time when you might be able to negotiate a lower price is when there are a just a few plots left. The developers might be willing to reduce the asking price to complete all the remaining sales.
Whether this year is a good time to buy a house depends on your circumstances. If you are a first-time buyer, the predicted decrease in interest rates will make new mortgage payments more affordable than last year.
However, if you are buying and selling at the same time, you should consider how your mortgage payments will be affected. Taking out a new mortgage at a higher interest rate than your existing one could increase your mortgage payments.
House prices increased by around 3% in 2024 and are expected to follow a similar trend in 2025, so buying now could potentially save you around 3% of the property value compared to in a year’s time.
Whatever the time of year, if you are thinking of buying a new home in Wimbledon and the surrounding area, we can help you find the home of your dreams. Get in touch with our professional and friendly estate agent team today.
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