Record number of sellers leads to a ‘Boxing Day bounce’

The number of new sellers putting their home on the market on Boxing Day leapt by 46% compared with the year before to set a record, Rightmove says.

There was also a big jump in the number of sellers wanting their home valued between Boxing Day and New Year’s Day – the highest recorded in a week since early September.

It was also 29% higher than in the same period in 2021.

Rightmove also reveals that Boxing Day week saw the number of views of homes for sale on Rightmove jump by 20% compared with the previous week – a sign that activity is starting to ramp up ahead of the Spring selling season.

‘Boxing Day is traditionally the start of activity’

The property platform’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.”

He added: “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.”

‘Views of properties for sale pre- and post-Christmas’

Mr Bannister continued: “The jump in the number of views of properties for sale pre- and post-Christmas is another good sign that the new choice available is getting a lot of attention from future buyers.

“After a pause for the festivities, those wanting to buy this year will be ready to get back to their plans and assess where they’d like to live and what they can afford.”

He adds: “Those sellers who got a head start and have their home already up for sale will now be benefitting from the jump in viewings over the next few weeks, as people settle back into their usual routines.”