The Weather determines property market

The buy-to-let boom of recent years has fed the stereotype that Britons are obsessed with property.

Ever since Margaret Thatcher declared her belief in a ‘property-owning democracy’ and introduced Right to Buy in 1980, the UK was converted into a country that saw houses as something to make money from, not just to live in.

However, fluctuations in the weather – another British obsession – can often affect when people buy and sell property, according to a new study.

The research from My Home Move found that first-time buyers, for instance, avoid temperature extremes when house hunting, preferring to shop for their first home when temperatures level out between 7-10 °C and 15-21 °C, avoiding the excessive highs and lows of Britain’s seasons.

In comparison, those looking to sell their homes are motivated, on average, by the soaring temperatures of the summer months. This year saw a high of 41 properties for sale per branch in August – the second highest number recorded, compared to an annual low of just 33 properties listed in January when temperatures fell to 8°C.

Doug Crawford, CEO of My Home Move said: “As a nation we are famed for talking about the weather and often teased by our European and American friends for it. But on a serious note it would seem that the weather can have an impact on the behaviour of Britain’s house hunters and sellers, and paying attention to the outside temperature could help the industry predict when to market to first-time buyers, or look to attract new sellers as the weather hots up.”

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Written by: Houseladder