It is one of the most unusual property phenomena but the Boxing Day bounce is real and potential sellers can prepare for it now.
Brits have got into the habit of contacting estate agents and cruising the portals on 26th December. Between brussels sprouts and bowls of trifle, we love nothing better than planning our next move.
The Boxing Day bounce appears to break records every year. Rightmove saw 10,000 new properties come to market on 26th December 2023 - the biggest number of new sellers in one day since 2011. There were also 17% more buyer enquiries on Boxing Day 2023 than the previous year.
If you want to sell in the New Year and your home isn’t online by Christmas Day, you will miss this unique surge of interest. Why not book a valuation with us today?
Not just Boxing Day
As the clock strikes midnight on 31st December, many of us will be making New Year resolutions. Among those to get fit and drink less will be to move home.
The fresh start that a New Year heralds is behind a historical spike in home moving activity in January. The statistics are consistent – buyers and sellers are motivated in January, and momentum is already building.
Take, for example, January 2024. The number of new properties being listed for sale on Rightmove was 15% higher in January 2024 compared to January 2023. Buyer demand mimicked the trend - 5% higher in January 2024 than January 2023. Additionally, 9 of its 10 busiest days on record for people getting a mortgage in principle happened in January 2024, with potential movers keen to discover what they could afford to buy.
This sentiment was reflected by data analysed by Twenty7tec. It revealed the total number of ‘purchase mortgage’ searches conducted by independent financial advisers in January 2024 surpassed January 2023. The figure was also the highest number of searches in the month of January over the last four years.
It's too early to say how many mortgage searches will be conducted and how active movers will be in January 2025 but with average 2-year and 5-year fixed rate mortgages almost 1% cheaper now than 12 months ago, there is potential for an increase in buying and selling in the coming weeks.
How to capitalise on the festive furore
Don’t panic, you don’t need to come to market right now or accept viewings in December – you just need to be ready so your listing goes live on Christmas Day. The first step is to book a valuation appointment with our team - we only need a few days’ notice. Once we have agreed on a sales figure, we’ll take a set of marketing photos, gather material information and prepare your listing.
We’ll keep your listing in the background until the time is right, if you prefer, pressing the button just ahead of Boxing Day.
It is essential that everything is in place well ahead of time, so don’t delay if you want your home to be seen by potentially the year’s biggest buying audience. Contact us today and we can start preparing.
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