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Properties for sale bounce expected post-Boxing Day – Rightmove
The number of properties coming to the market last year nearly tripled compared to pre-pandemic figures, research has shown.
According to Rightmove, the number of properties for sale on Boxing Day by estate agents this year was 173 per cent higher than 2019 and 46 per cent up on 2021.
The report said that there was a record number of new properties listed for sale on Boxing Day as sellers tried to work with agents to capture new buyer interest which starts post-Christmas and builds over the new year.
Buyer demand, which is worked out using the number of buyers sending enquiries to estate agents about homes for sale, more than tripled from Christmas Day to Boxing Day last year.
The number of people contacting estate agents between Boxing Day and 1 January last year was the highest number recorded since early September 2022 and 29 per cent up on the same period in 2021.
The report added that two of the busiest days on record for future sellers contacting an estate agent to value their home were in January 2023.
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Properties for sale typically rise post-Christmas
Rightmove’s property expert Tim Bannister said: “We typically see a post-Christmas upturn in buyer activity, with early-bird buyers finishing off their turkey dinners and starting their search for a new home for the new year. It’s a key reason why we’re seeing more new sellers come to market on Boxing Day, ready for their properties to be the first seen by prospective new buyers.
“However, with activity typically increasing from Boxing Day into January, sellers planning to come to market later in January still have time to capitalise on the renewed buyer activity.”
He added: “This year’s upturn will be eagerly anticipated by those who are keen to sell, who may have been holding off due to the disorderly mortgage market earlier this year. Many will also be watching the scale of the upturn as an early sign of building momentum as we progress through the winter and into the important spring selling season and year ahead.”
A report from Rightmove earlier this week suggested that average new seller asking prices were falling but the market was still “resilient”.