Published: 31/12/2021 By Spencer Cushing, Branch Manager, Burnham MarketAn inside look from a Sowerbys Norfolk property specialist.
At the beginning of every new year, and following on from having time over the festive period to scan the property portals there’s always a frenetic flurry of post-new year buying activity.
However, once that’s died down, we find that most typically the months of January and February are a quieter time for the house buying market.
This is almost exclusively driven by the weather as, let’s face it, few people wish to go hunting for a home on cold, wet and miserable winter days.
Now, it’s quite possible that if you’re reading this then one of your resolutions for 2022 might have been to set the wheels in motion for selling your house.
If that’s the case, then this natural lull is the perfect time to quite literally get your house in order. Simple things such as decluttering make a huge difference, and touching up the paintwork can be a simple, quick, and inexpensive way of really improving your home’s aesthetic appeal - and neither activity break the bank.
Of course those more serious changes, such as installing a new kitchen or bathroom, make a huge difference on a property’s saleability and this really is the perfect opportunity, if you can, to tackle such disruptive works during this quieter time.
My best advice is to use this time wisely. That way, when the buds start to open and the days get warmer and longer, you’ll be perfectly positioned to take full advantage of the Spring market surge.
Of course, no January article about property would be complete without a prediction on what the year ahead might provide.
After the most extraordinary property markets we experienced in both 2020 and 2021, such predictions are difficult to make and we’re all wondering what 2022 will hold for North Norfolk.
We start this new year with historically low stock levels and I believe that’s the key to what will happen in the first half of this year.
In January 2019 my branch in Burnham Market started the year with 62 houses to sell, an average and consistent number from previous years.
In the dark days of lockdown III in January 2021, we had two thirds that number available, but as we start 2022 we have half that figure again in existing properties.
With so little on the market yet so many still looking to buy, it’s my firm belief that the strength of this market will continue well into this year until such a time as supply and demand start to level up. From all of us at Sowerbys have a very prosperous 2022!