As the autumn months usher in shorter days, the UK housing market is poised for increased selling times.
- Moverly’s analysis indicates that selling a home takes longest during the autumn, averaging 73.3 days.
- From late March to October, homes sell in about 63.1 days; post-clock change, it stretches to 66.2 days.
- Fewer daylight hours discourage weekday evening viewings, pushing potential buyers to weekends.
- Moverly suggests tech solutions to streamline selling, especially in conveyancing.
The impending change in daylight hours in the autumn months could spell a longer wait for those looking to sell their homes. Moverly has reported that from September to November, it takes an average of 73.3 days to sell a property, with October and November being particularly slow months.
This seasonal slowdown is largely attributed to the reduction in daylight hours. During British Daylight Saving Time, which runs from the end of March until the end of October, homes typically spend an average of 63.1 days on the market. However, as the clocks roll back, the selling period extends, averaging 66.2 days.
The decrease in available daylight strongly influences buyer behaviour. With sunsets as late as 9:21 PM in June, potential buyers have ample time to view properties after work hours. In contrast, the dark evenings of December see the sun set as early as 3:53 PM, pushing viewings to weekends.
According to Gemma Young, CEO of Moverly, “As the days get shorter and nights draw in, agents are going to have less time each day to conduct viewings which is going to have an inevitable impact on the time it takes to sell a home.” This challenge is compounded by the anticipated increase in market activity, driven by falling interest rates leading into the new year.
To mitigate the impact of restricted daylight hours, Young recommends leveraging technology to expedite the traditionally lengthy processes in home selling, like conveyancing. By providing buyers with necessary information upfront, the process becomes significantly more efficient.
Embracing technological solutions could effectively counter the adverse effects of shorter days on home selling timelines.
