There is a commonly held belief that the property market in Cumbria and the Lake District effectively grinds to a halt over the winter months. It is certainly true that we tend to see fewer properties openly launched onto the market during this period, and there are very good reasons why spring remains a popular time for sellers. Gardens are looking their best, daylight hours are longer and, from a purely presentational perspective, a property can often be shown at its most appealing. But there is a significant difference between fewer properties being openly marketed and the property market itself becoming inactive. From my experience of working within the Lake District property market, some of the most important activity happens long before a property ever appears on Rightmove, and winter can actually be an extremely useful time for buyers who are prepared to look beyond what is immediately visible online.
“some of the most important activity happens long before a property ever appears on Rightmove”
The decision to sell a home rarely happens a few weeks before an estate agent puts the property on the market. For many homeowners, it is a process that takes six to twelve months, and sometimes considerably longer. There may be numerous conversations along the way with estate agents, solicitors, architects, developers, friends, family and other property professionals, as well as considerable thought about where they might go next, what they need from their next home and whether a move is actually achievable. Circumstances can change, plans can evolve and people can decide to wait before taking the next step. As a buyer, you will not necessarily see any of this happening because it takes place away from the open market. Yet these conversations can be extremely significant if you are looking for a particular type of property in a relatively tightly defined area.
“Rightmove and the other property portals should be viewed as the starting point rather than the entire market”
This is one of the reasons why I have always believed that Rightmove and the other property portals should be viewed as the starting point rather than the entire market. My work puts me in conversations with estate agents, solicitors, property professionals, developers, local contacts, previous clients and people who are well connected within the communities I work across. Those conversations can sometimes uncover a property that is being considered for sale but has not yet been launched, an owner who is quietly testing the waters, or a property that has previously been marketed but has since been withdrawn. There are also circumstances where an owner has decided not to proceed with a sale because the market did not deliver the result they wanted, but the underlying desire to move has not necessarily disappeared. They may simply be waiting for the right circumstances, the right buyer or the right opportunity to come along. None of this will necessarily be visible to somebody whose only method of searching is to monitor the open portals.
For a buyer entering the market, this is particularly important during the winter months. If you begin your search in January and look only at what is openly available, you may reasonably conclude that there is very little to choose from. That can be frustrating, particularly when you have a clear idea of what you want. But this is precisely where I would encourage buyers not to switch off. There is a great deal that can be achieved when there is less pressure to react immediately to a property that has just launched. Winter can provide valuable time to broaden your thinking, investigate different areas and properly understand what might be possible. Perhaps there is a village you have never considered because you have always focused on one particular location. Perhaps there is a property that does not initially appear to meet your requirements but has the potential to do so with alterations, an extension or a different approach to the layout. Perhaps the location gives you many of the things you are looking for but offers better value than the area you originally had in mind. These are the sorts of questions that are much easier to explore when you are not simply reacting to the next property that appears online.
This is also where having somebody independent working on your behalf can be particularly valuable. My role is not to sell you a house. I am not an estate agent acting for a seller and I am not there to persuade you that a particular property is right for you. I am there to look at the whole picture on your behalf: what is available, what is not available, what may become available, what could potentially be changed and what simply does not make sense for your requirements. If a property appears online that looks interesting, I can go and view it on your behalf before you spend the time and money travelling to see it yourself. Sometimes the answer is straightforward and I can tell you that it is not suitable. On other occasions, having another pair of eyes on a property can identify something that makes it worth investigating further. That might be the potential to alter the accommodation, extend the property or explore planning possibilities, or it might simply be recognising that something you initially discounted could actually work when considered in the context of your wider requirements.
“The visible market may become quieter, but that should not be confused with inactivity.”
This becomes even more important for buyers who are travelling into Cumbria from elsewhere in the country or from overseas. The Lake District is a large and geographically diverse area, and a property that looks close on a map can be very different in reality. Roads, access, commuting distances, school routes, village facilities, surrounding development and the character of an area can all have a significant bearing on whether a property is genuinely suitable. I can be there when my clients cannot, carrying out that initial assessment and helping them decide where their time is best spent. The objective is not simply to increase the number of properties they see. In many cases, it is the opposite: to reduce the number of unnecessary viewings and ensure that when they do make the journey, there is a genuine reason to do so.
Winter is also an important period for buyers who need to sell their existing home before they can move. This is where property transactions can become something of a chicken-and-egg situation. You may not want to put your own home on the market until you have a clearer idea of where you are going, but you also do not want the property you really want to appear before you have done the preparation necessary to put yourself in a position to act. If you wait until the perfect property appears before starting those conversations, you may find yourself under unnecessary pressure. Getting your own property ready, understanding your financial position, taking appropriate legal advice and discussing the different ways in which your purchase and sale might be structured can all take time. There are different strategies available depending on an individual’s circumstances, and there is certainly no universal solution, but having those conversations early gives you far more flexibility when the right opportunity eventually presents itself.
“When properties begin to launch in greater numbers, competition can increase and decisions can suddenly become much more time-sensitive”
There is another reason why I think buyers should resist the temptation to simply put their search on hold until spring. . If you have spent the winter understanding the areas that could work for you, refining your brief, investigating properties and potential, getting your own affairs in order and establishing what you are genuinely prepared to compromise on, you are in a very different position from somebody who starts that process only when the property they want appears online. Being prepared does not mean rushing into a purchase. In fact, it can have the opposite effect. It gives you the ability to make a considered decision because you have already done the groundwork.
I therefore challenge the idea that the Lake District property market simply ‘dies’ over winter. The visible market may become quieter, but that should not be confused with inactivity. Behind the scenes, homeowners are considering their options, buyers are refining their requirements, agents are having conversations, properties are being discussed and plans are being made for the months ahead. Some of those conversations will ultimately lead to properties being openly launched in the spring, while others may lead to opportunities that never reach the portals at all. For a buyer, the quieter months can therefore be an opportunity rather than a disadvantage.
“the quieter months can therefore be an opportunity rather than a disadvantage”
Ultimately, my role is to save my clients time, energy, effort and stress, while helping them make informed property decisions. I am there when they cannot be, whether that means viewing a property on their behalf, investigating an opportunity, speaking to the relevant people, challenging whether something really meets their brief or simply providing an independent opinion when they need another perspective. I am not there to sell a property to them. I am there to look at the market from their side of the table and help them understand what is actually possible.
So, if you are thinking about buying in the Lake District, perhaps this winter is not the time to stop looking. Perhaps it is the time to start looking differently.