Brits' buying habits are influenced by the weather, research shows
PUBLISHED: 10:00 30 December 2016 | UPDATED: 15:02 02 January 2017
Notorious for our obsession with the weather, Brits' buying and selling habits are influenced by temperature changes - it's official.
New results reveal that first-time buyers avoid purchasing a home when it’s too hot or too cold and prefer to house-hunt when the weather is mild.
Sunny days prompt people to put their houses on the market with July and August seeing an average of 50+ properties on estate agents’ books.
But rain was not known to affect sales, as buyers and sellers take downpours in their stride. Which is just as well really…
The research was carried out on behalf of conveyancing company My Home Move and involved more than 1,000 weather and estate agency reports.
It showed ideal temperatures for buying to be between 7-10°C and 15-21°C – avoiding excessive highs and lows of British seasons.
This August saw 41 properties for sale per branch in August, which is reportedly the second highest number on record for that month, compared to an annual low of 33 properties listed in January.
But March was the overall best month, enjoying 54 sales per branch: a reaction to beat the stamp duty deadline for additional homes, which came into force at the beginning of April. Perhaps proving we are still more influenced by cash than climate?
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 the weather can have an impact on the behaviour of house hunters and sellers. 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.
“It would also appear we are so used to rain, it has no obvious negative affect, even during the wettest months of the year. So even when it’s raining cats and dogs, we are still happy to put our homes on the market, view properties and even make an offer.”
The study covered England and Wales between 2013-2016 and examined national average weather reports for each month and year from the Met Office, comparing them with housing market reports by the National Association of Estate Agents.