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New Year Market Update

New Year Market Update

Date Posted: 12/01/23

Boxing Day Bounce as record number of sellers come to market!

A record number of new sellers put their property up for sale on Rightmove on Boxing Day, a 46% jump on the previous year.

Prospective sellers also got ready for a New Year move, with the number of people contacting estate agents to value their home between Boxing Day and New Year’s Day the highest number recorded in a week since early September, and 29% higher than the same period in 2021.

PersentBoxing Day week saw the number of views of homes for sale on Rightmove jump by 20% compared with the previous week, as activity begins to ramp up ahead of the Spring selling season, new data from the UK’s biggest property website Rightmove reveals that a record number of new sellers came to market on Boxing Day, as home-moving activity started to ramp up following the usual Christmas lull.

Many future sellers also made one of the first steps to putting their houses on the market for sale, by sending a request to an estate agent to come out and value their home. The week following Christmas was the busiest week for these valuation requests since early September, peaking on the 28th December as some people returned to work following the bank holidays.

Valuation requests were 29% higher compared to the same time last year. The number of views of homes for sale on Rightmove jumped by 20% between the week of Christmas and Boxing Day week as prospective buyers considered the new choice available.

Rightmove’s property expert Tim Bannister said: “Boxing Day is traditionally the start of activity ramping up into January and the Spring selling season after Christmas, as people return to their search or consider a New Year move. We’ve seen some promising activity and familiar patterns over the festive period this year, which are good signs for the year ahead. “While we expect a calmer market this year than we’ve had since the pandemic started, the record number of sellers who chose to come to market this Boxing Day indicates there is a group of motivated sellers ready to move, who perhaps held back and now feel more confident. After such frenetic market conditions over the last few years, this year’s calmer market will better suit measured movers who prefer to take their time to find the right property. “The jump in number of views of properties for sale pre and post-Christmas is another good sign that the new choice available is getting a lot of attention from future buyers. After a pause for the festivities, those wanting to buy this year will be ready to get back to their plans and assess where they’d like to live and what they can afford. Those sellers who got a head start and have their home already up for sale will now be benefitting from the jump in viewings over the next few weeks, as people settle back into their usual routines.”

As always, whether you are buying, selling or renting, why not speak to Putterills, your local Trusted Property Experts.


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