British Summer Time signals start of housing market rush

British Summer Time is imminent. As well as warmer days and bank holidays, this time of the year also means an uptick in prospective buyers making use of the extra hour of daylight to accelerate their property-buying plans, especially for time-restricted professionals who might otherwise struggle to fit in viewings.

As the clocks go forward the London property market is continuing to see high levels of activity. As of February, there were 111 lettings applicants per property and the volume of sales applicants increased by 28% compared to the same month last year.

Following the two year anniversary of the first lockdown and with the country now fully open, optimism is high for a busy property market, particularly with the annual surge in UK and international students moving to London. Thousands are keen to take advantage of the capital’s world class universities and strong jobs market. This often provides a boost to the London property market in the second and third quarters of the year.

Many of these students and young professionals keen to sort out their living plans will take advantage of the extra hour of daylight to view properties after work. Smart sellers and landlords are therefore putting their properties on the market now in anticipation for the likely surge in demand in the coming weeks and months.

Stephen Ludlow, Chairman at ludlowthompson said, “British Summer Time makes viewings for young professionals far easier. This is fortunate given the current high levels of competition for properties in the capital.”

“With the country now fully open following the end of Covid restrictions and the yearly surge in students moving to London not too far away, it is essential that landlords and sellers make preparations to list their property on the market now and take advantage of the uptick in demand in the coming weeks.”

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