Housing Market Kicks Off 2024 with strong demand, according to Rightmove

A record number of sellers came to market on Boxing Day 2023 according to Rightmove.

The 26 per cent increase in new sellers beat the previous record of last year, while buyer numbers also rose - the number of prospective purchasers contacting agents about homes for sale nearly quadrupled from Christmas Day and was 17 per cent up on Boxing Day last year.

Visits to the Rightmove platform boomed 84 per cent between Christmas Day and Boxing Day and were eight per cent higher than last year.

Rightmove’s property expert Tim Bannister says: “The scale of this year’s Boxing Day bounce is an early positive sign at the start of the year that buyers and sellers are out there and taking action, likely including some movers who had put their plans on hold last year. 

“Whilst it is early days, it will be key to monitor activity as it ramps up through the end of winter and into spring, particularly to track whether sellers are pricing attractively enough to agree a sale with a buyer quickly, given buyers now have more choice to consider than last year and are still very price sensitive.”

And Nathan Emerson, chief executive of agents’ trade body Propertymark, adds: “Positivity is clearly resonating on the property market even though Christmas is normally a quiet period for the property sector. 

“Rightly so, sellers are clearly not deterred by the latest inflation figures or interest rates as optimistic signs start to emerge and are demonstrating confidence in the market. This is the positive type of news that Propertymark hopes to see more of throughout 2024.”