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September often feels like a fresh start. The summer holidays come to an end, children return to school, routines resume and, for many people, attention turns back to plans that may have been put on hold over the warmer months.
Moving home is often one of them.
After a July and August that proved busier than we expected, we’re heading into September feeling positive about what the autumn property market could bring.
While national house price figures remain subdued, buyer demand is showing encouraging signs and, locally, there are still plenty of people looking to make their next move.
According to the latest figures from Rightmove, average asking prices nationally have fallen by around 2%, leaving them approximately 1% lower year-on-year.
However, we’re continuing to see a relatively stable market locally.
August is traditionally a quieter month for estate agents. With school holidays, family trips and other summer plans taking priority, property searches and moving plans can temporarily take a back seat.
Despite that, both July and August were busier than we had anticipated across Ellis Winters.
That gives us good reason to be optimistic as we enter September – historically a month when the property market begins to gather momentum again.
September is typically an important month in the property calendar.
As normal routines return, we often see more homeowners deciding to put their properties on the market and more buyers becoming serious about their searches.
There’s another date beginning to appear on the horizon too: Christmas.
It might feel far too early to mention it, but if your goal is to be settled into a new home before Christmas, now is the time to start putting those plans into action.
Selling and buying a home takes time. Getting your property valued, preparing it for sale, launching your marketing, finding a buyer and progressing a chain through to completion won’t happen overnight.
So, for anyone hoping to be unpacking boxes in their new home before the festive season, September is an excellent time to get moving.
The wider local market did experience the expected summer slowdown during August.
Across our overall patch, the number of new instructions coming to market was 10% lower than the previous month, while the number of sales agreed was 17% lower.
That needs to be viewed in context, though.
August is normally quieter, and these figures represent activity across the wider area and multiple estate agents. Within our own three sales offices, we experienced a stronger August than anticipated.
Nationally, Rightmove has also reported buyer demand increasing by around 5%, based on activity such as property enquiries and buyer registrations.
There’s an important distinction between browsing properties online and actually progressing with a move, of course. The summer holidays can provide people with more downtime to scroll through Rightmove and start thinking about what their next home might look like.
September is when many of those thoughts can begin turning into action.
We’re not expecting dramatic movements in property prices in the immediate future.
Instead, stability remains the key theme.
As we’ve discussed in previous updates, the market remains price-sensitive. Buyers have choice and are paying close attention to value, which means sellers need to start with a sensible pricing strategy.
But stable prices don’t necessarily mean a quiet market.
In fact, stability can give buyers and sellers greater confidence to make decisions because they have a clearer idea of where they stand.
There are also wider economic factors ahead, including upcoming Budgets, which could influence confidence and activity. Unless there are significant changes, however, we expect the current stability to support movement rather than create dramatic swings in property values.
Mortgage affordability continues to be an important part of the picture for buyers.
Lenders are consistently looking at ways to improve affordability and offer products that help people move, so understanding what’s available can be extremely useful before starting a property search.
We’ve recently filmed another video with Warren, one of the mortgage advisers we work alongside, discussing some of the latest developments and answering common questions from buyers.
If you’re considering moving, it’s worth watching alongside this month’s market update and speaking to a qualified mortgage adviser about your individual circumstances.
Knowing what you can comfortably afford can put you in a much stronger position when the right property appears.
On the lettings side, there has been relatively little change – which in this case is good news.
There continues to be good availability alongside healthy tenant demand, creating a fairly balanced rental market for both landlords and prospective tenants.
Unlike sales, the rental market tends to continue moving consistently throughout the summer holidays. We would normally expect activity to remain strong throughout the autumn before beginning to ease much closer to Christmas, when both landlords and tenants can become more reluctant to arrange moves.
For landlords considering bringing a property to market, or tenants looking for their next home, there are still plenty of opportunities available.
After a stronger-than-expected July and August, we’re genuinely looking forward to seeing what September brings.
The national figures may not be shouting about dramatic house price growth, but that’s not necessarily what makes a healthy property market. Stable pricing, improving buyer demand and the traditional autumn return to the market could create a positive environment for people who are ready to move.
And if being in a new home before Christmas is your goal, the clock has already started ticking.
Whether you’re considering selling, buying, letting or renting, speak to your local Ellis Winters team. We can talk you through what’s happening in your specific area, discuss the right pricing and marketing strategy for your property, and help you decide whether now is the right time to make your move.
Sometimes the first step is simply having the conversation.
To watch the full market update video, click here.
Our expert lettings team have all the knowledge to help you find your next home.
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