There’s a warning that a housing market lull may be on the way this autumn.
Estate agency eXp UK analysed housing market data over the last decade, looking at house price growth across each season and how price performance fluctuates across each period.
The figures show that over the last decade across Britain, house prices have seen an average rate of increase of 1.5% between the summer months of June to August, with all British regions seeing similar rates of strong property price growth during these months.
In contrast, the average rate of growth seen over the last 10 years between the autumn months of September to November sits at -0.1%, with the same negative growth also observed over the winter months of December to February, before positive growth returns during March to May with an average increase of 1.1%.
There are some regional variations, with house prices across the North East averaging a greater decline during the winter at -0.9%, whilst in Wales they’ve increased by an average of 0.7% over the last 10 winter seasons.
But the general trend of seasonal adjustment is now starting to unfold claims the head of eXp UK, Adam Day.
He says: “As a home seller, knowledge is power, and so understanding how seasonal trends impact your local property market can be key when it comes to deciding when to sell and how much for. With the price achieved generally reducing during the autumn and winter months, along with transaction levels, it’s important not to get carried away by recent property market positivity and set an over-optimistic asking price, if securing a buyer at speed is your top priority.”