There’s been a 46 per cent increase in ‘for sale’ stock hitting the market as sellers look forward to a Boxing Day Bonanza.
Rightmove’s property expert Tim Bannister says: “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.”
And according to estate agency eXp UK the omens are good – the agency analysed the number of homes to have been listed for sale in late November and how this influx of for sale stock compares to the start of the year).
The research shows that, according to Rightmove, there are a total of 697,525 homes currently listed for sale across Britain – 10 per cent more when compared to January of this year.
Of these, 67,227 have been listed for sale in the last two weeks alone, a 46 per cent increase when compared to the 46,092 sellers that entered the market at the start of the year.
In fact, every area of Britain has seen an increase in the number of sellers returning to the market ahead of the Christmas period.
Scotland has seen the largest increase, with 3,465 homes listed over the last two weeks, a 195 per cent increase in new for sale stock versus January.
The North East and North West have also seen a notable uplift in new sellers entering the market, up 114 and 112 per cent respectively when compared to the start of the year.
Yorkshire and the Humber (up 87 per cent) and London (up 69 per cent) also rank within the top five largest uplifts in fresh ‘for sale’ stock.
The East of England has seen the smallest increase in new homes hitting the market, but even still, 22 per cent more homes have been listed for sale in the last 14 days versus the start of the year.
The South East has also seen one of the smallest increases at 31 per cent, however, the region has seen the largest increase in terms of the number of new homes listed for sale at 10,798, followed by London (9,066).
An eXp UK spokesperson says: “The Christmas period is a traditionally quiet period for the property market, certainly when it comes to new sales, but there are many benefits to listing your home at this time of year. The main one being that you get the admin out of the way and you’re ready to hit the ground running in the new year when buyers return from their festive hiatus.
“Listing now also helps you get ahead of the competition and make the most of the Boxing Day bounce in traffic from prospective buyers and so it’s no surprise that there has been a surge in seller activity in the last few weeks.
“Although we’ve seen cooler market conditions materialise in recent months, it’s clear that any fears of a market downturn have been greatly exaggerated. The nation’s sellers are now confident that the value of their home will stand firm and this is also helping to boost sentiment.”
