Is now a good time to sell a house?

Should I sell my house now?

Whether you should sell your house now or not depends on whether it's the right time for you. Timing the market is near impossible, so if you want to sell your property now, you should - don't sit on the fence trying to time the "perfect" moment. Whether it's a buyer's or seller's market, there are pros and cons for selling in both market climates. Plus, people always need to buy homes and move up the ladder, regardless of what's happening in the housing market.

With that in mind, it's always worth understanding what's happening in the world of mortgages and house prices right now to help you make an informed decision, as well as understand what to expect when it comes to buyer demand.

What’s happening with the property market right now?

June saw the sharpest decline in asking prices since 2011 at a 0.3% drop. This is unusual for June, as this is typically a month when house prices rise. Right now it's a buyer's market, with more homes hitting the market than in the past decade, giving buyers more choice and maintaining overall market activity despite affordability concerns. At the same time, the changes to Stamp Duty are impacting buyers' budgets, particularly in areas where the tax rise is adding significantly more to the cost of a house purchase.

All this means that home sellers are having to price more competitively to attract buyers, which is keeping house price inflation down. In fact, the average home sale is currently being agreed at 3% (or £16,000) below the average asking price.

This doesn't mean that getting a sale is impossible, as there are signs that sellers whose properties are priced competitively are getting sales agreed. In fact, May saw the highest number of homes sold in a single month since March 2022, which suggests that homes priced more competitively are being snapped up.

Why are houses not selling at the moment?

Right now, there is a decade-high number of homes for sale. This means that buyers have more choice, and sellers need to ensure that their properties are priced competitively to attract interest. If your property isn't selling, it might be worth reassessing its asking price. If your property is priced too high in comparison to similar properties on the market, you will find it harder to attract buyers who are spoiled for choice right now.

While it can be disappointing to reduce your property's asking price, remember that a property is only worth what someone is willing to pay for it. Understanding this, and what's going on in the wider housing market, can help you ensure your property is priced correctly and attracting aspiring buyers.

You might also like: Our top home renovation tips

Will house prices go up in 2025 in the UK?

House prices are expected to go up in 2025, but any rises are expected to be moderate. The most recent figures show that house prices are 1.6% higher compared to a year ago, and are expected to even out at 2% higher over the whole of 2025.

Find out more here: Tembo's mortgage rate and house price predictions for 2025

When is the best time to sell?

Historically, February to April yields the fastest sales and strongest demand. Listings in these months are 66% more likely to complete and do so in 50-52 days on average. But early summer can also see strong demand, especially among families aiming to settle before the next school year.

But remember that you should sell your house whenever the time is right for you. Although there are ‘peaks’ throughout the year when more people put their homes up for sale, you can choose to sell your home whenever you want. You might want to move house to be closer to good schools, for example. Or you might be changing jobs and need more space to use as a home office. Or perhaps you’ve got your sights set on a different location and a fresh start. 

You’ll also want to consider how much it’ll cost to sell your home, especially if you’re buying another property. For example, can you afford a mortgage on your new home? How much will the estate agent charge? If you currently have a fixed-rate mortgage, will you need to pay any early repayment fees for exiting the deal early? There’s no need to crunch the numbers alone. A mortgage broker (like our award-winning team) can help you assess your affordability and find the right mortgage deal for you.

Tips to get the best sale price on your home

• Time it right: If you want to wait until demand is at it's highest, aim for a listing in April or May, when buyer interest peaks.
• Kerb appeal counts: First impressions matter - enhance your garden, repaint the front door, and declutter your home.
• Stage your home: Use neutral colours, good lighting, and remove personal items to help buyers imagine living there.
• Fix key issues: Address leaks, damp, or outdated wiring - these can be dealbreakers.
• Price competitively: Research local sold prices (not just asking prices) and set a realistic figure to attract interest.