December can be a great month for investors to buy properties if they are looking to make savings. The period generally sees the market slow down due to the arrival of Christmas and the preparations for the festive period and New Year. This means that demand drops and prices can dip slightly as a result. Sellers looking to offload properties before the end of the year may also offer discounts so they can complete a sale. This means there is potential for double savings.
In five of the last six Novembers, prices have dipped slightly in the month and those few properties that enter the market at this time of year generally come with lower price tags too. This has become a noticeable trend and can provide excellent opportunities for eagle-eyed buyers.
The conditions are favourable for buyers and offer great potential for the future. By buying late in November or early in December you could enjoy some substantial savings and get ahead of the competition when the New Year arrives. If your purchase is complete you can sit back and wait for the demand and growth to return.
London has the highest property prices in the UK with the average home now costing over £500,000. Even a small dip in demand can bring great savings for buyers as a result. If you are thinking about buying in the capital, you should definitely keep an eye on the market over this period if possible.
At Finefair we offer bespoke services for buyers all year round, including advice, property management and guaranteed rent in Barnet and beyond. We are committed to helping our clients find the perfect properties, whether they plan on living in them or letting them out. We can search the market for you and offer an insight into every property, including the condition and the value. We will also advise you about the prospects for the area so you can look to the longer term and decide if you are making a sensible investment. If you would like advice about the market in London or buying a property at this time of year, please contact us.