Property market enjoys record-breaking ‘Boxing Day bounce’

New data from Rightmove, the UK’s biggest property portal, shows that a record-breaking number of new sellers came to market on Boxing Day as home-moving activity starts to increase once again.

There was also a large rise in future sellers also sending property valuation requests to estate agents – the first step serious sellers take when putting their property on the market. The week commencing 26th December was the busiest seen for such requests since early September, and the total number of valuation requests was 29% higher compared to last Christmas.

The property portal also report that it saw number of views of homes for sale jump by 20% between 19th and 26^th December 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.”

Ben Foster, Director of Julian Wadden Didsbury, is also encouraged by the late-year traffic and states that high levels of interest in both selling and buying property will help the property market throughout 2023.

Main takeaways:

• Record number of new sellers listed properties on Rightmove on Boxing Day, a 46% jump on 2021.
• Total number of valuation requests received estate agents between Boxing Day and New Year’s Day 29% higher than the same period last year.
• Boxing Day week saw the number of views of homes for sale on Rightmove jump by 20% compared with the previous week, as activity ramps up ahead of the spring moving season.

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