You’ve probably heard that old adage in property:
“When is the best time to buy property? Now!”
And the assumption is that now, literally means now. In other words, it doesn’t really matter when, as long as you get on and do it.
This argument (which, by the way, I tend to agree with most of the time) is further supported by this logical construct:
“When was the best time to have bought property? 10 years ago? Well, you can’t go back 10 years so when is the next best time to buy property? Today? Exactly!”
I also (mostly) like that argument as well.
But if we wanted to be really pedantic we could argue about whether it’ best to wait and then buy in a downturn.
Or whether we should wait, and then buy during an upturn.
And so on, and so on.
I’m less persuaded by those arguments because it’s usually only possible to spot the best and worst times of an economic cycle with 20:20 hindsight.
But, and here is the point, I am sometimes asked, ignoring economic cycles etc etc, are there times of the year which are better (or worse) for buying property?
And, spoiler alert, the answer is, as a general, rule, YES!
There are two time of the year which are better for buying – Summer and Christmas.
There are two times of the year that are better for selling – Spring and autumn.
Now, please hear me.
I’m not saying that you should only buy in Summer or Christmas – you can still find and buy good deals at other times of the year, but it can be there’s more choice and less competition at those times of the year.
Nor am I saying that if you need to sell you should only sell in Spring or autumn, although chances are there’ll be more buyers at those times of the year, no matter what is happening in the overall economic cycle.
It’s like wheels in wheels – we can think about the overall cycles, and we can think about the annual cycle of the ‘seasons’.
By understanding those we can tweak and nuance and make sure the deals we do are the very best they can be.
And, of course, NOW is summer.
So if you want to buy, NOW can be a great time to get out on viewings whilst other potential buyers are lying on beach thinking they’ll leave it for a few weeks because nothing ever happens over summer!
Don’t wait for it to happen, make it happen!
I go through it all in the video (it’s less than 4 mins so grab a cuppa : ) )
Here’s to successful property investing.
Peter Jones B.Sc FRICS
Chartered Surveyor, author and property investor
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to: