Rightmove is gearing up for its highly anticipated Boxing Day property listings, showcasing a notable surge in new listings compared to pre-pandemic levels. The platform reports a nearly threefold increase in the number of properties hitting the market on Boxing Day. This trend is indicative of a shifting landscape in the real estate market, with a 173% surge observed last year compared to 2019 and a substantial 46% increase over the listings in 2021.
As the traditional post-Christmas property market gains momentum, Rightmove’s data suggests a considerable uptick in seller activity during this festive period. This surge not only signifies increased confidence in the market but also hints at evolving trends in property transactions, making Boxing Day an increasingly significant day for both buyers and sellers to engage in real estate opportunities.
In the preceding year, a remarkable uptick in the number of properties hitting the market on Boxing Day was observed. Sellers are increasingly teaming up with agents to leverage the wave of buyer interest that traditionally surges on Boxing Day, extending into the new year. This strategic move comes in response to the subdued activity during the festive buildup and on Christmas Day itself.
The surge in buyer demand during this period is notable, evidenced by a more than threefold increase in the number of buyers reaching out to estate agents with inquiries about available homes. This substantial rise underscores the significance of the post-Christmas period as a pivotal time in the real estate market, as sellers actively capitalize on the heightened buyer interest to showcase their properties to a broader audience.
The portal asserts that numerous prospective sellers take advantage of the holiday season and the beginning of the new year to contemplate a potential move. In the previous year, the volume of individuals reaching out to estate agents for home valuations between Boxing Day and January 1 marked the highest weekly figure recorded since early September 2022, showcasing a 29% increase compared to the same timeframe in 2021.
Notably, two of the 20 most bustling days on record for future sellers seeking property valuations from estate agents occurred in January 2023. This trend suggests that aspiring sellers are envisioning spending their next Christmas in a new home, highlighting the significance of the post-holiday period as a strategic time for individuals considering a change in residence.
According to Tim Bannister from Rightmove, there’s usually a surge in buyer activity post-Christmas, as early-bird buyers wrap up their holiday celebrations and commence their search for a new home in the upcoming year. This trend contributes to an increased number of new sellers entering the market on Boxing Day, aiming to showcase their properties as the first options for potential buyers. Despite this, sellers planning to list their properties later in January still have an opportunity to leverage the renewed buyer interest that typically extends from Boxing Day into the following month.
This year’s anticipated upturn holds particular significance for sellers who may have delayed entering the market due to the turbulence in the mortgage sector earlier in the year. The scale of this upturn will be closely monitored as an early indicator of growing momentum as we navigate through the winter, heading into the crucial spring selling season and the year ahead.