Traditionally, Christmas has been considered an unlikely time to sell a home, with potential buyers caught up in holiday festivities and not actively pursuing property searches. However, the dynamics of the property market have undergone a notable transformation, with the period between Christmas and New Year's Eve emerging as a prime opportunity for sellers. Termed the "Boxing Day Bounce," this recent shift has reshaped the property market landscape, turning what was once a dormant period into a bustling marketplace.
The Internet revolutionised the property market landscape. Unlike traditional methods, the Internet offers potential buyers the convenience of perusing numerous properties from the warmth of their homes during the festive season. No longer bound by physical constraints, buyers can explore listings at their leisure, contributing to the surge in online activity during the holiday period.
Over the last few years, Rightmove and Zoopla have reported a substantial surge in online activity related to property searches and listings on their platforms on Boxing Day.
According to Rightmove, last year the number of buyers sending enquiries to estate agents about homes for sale more than tripled (+250%) from the Christmas Day lull to Boxing Day. This trend suggests that potential buyers actively engage in property searches during the holiday season, presenting a valuable opportunity for sellers who do decide to list during the festive season.
Boxing Day last year saw a 46% increase in the number of sellers listing their homes compared to the previous year, according to data from Rightmove. This marked the highest recorded number of properties being put up for sale on any Boxing Day in the history of the website.
Tim Bannister, a property expert at Rightmove, emphasises the significance of this phenomenon: “There’s always a big post-Christmas upturn in Rightmove traffic, with early bird buyers starting their search on Boxing Day. This year’s upturn will be eagerly anticipated by those who are keen to sell, especially family movers, who are considering having an estate agent board put up as the Christmas tree comes down.”
The holiday season sparks a unique wave of motivation among potential homebuyers. As individuals wind down for the year and look ahead to the future, the festive period becomes a time for reflecting on personal goals, including the prospect of a new home. The relaxed atmosphere and time off during this period provide the perfect backdrop for contemplation and decision-making, making it a prime time for property searches.
While many individuals searching for properties over the Christmas period may not be available for immediate viewings due to their physical location, this can be advantageous for homeowners who prefer a quieter holiday season. Sellers can use this time to generate interest, plan for viewings in the new year, and have all the necessary details ready to go live on Boxing Day.
Listing a property on Boxing Day involves a balance between taking advantage of potential opportunities and navigating the challenges associated with the holiday season. Sellers should carefully evaluate their circumstances, local market conditions, and personal preferences before deciding on the timing of their property listing. A wise move for a seller is to work closely with a local estate agent who can provide insights into current market conditions and help develop a strategy that aligns with their goals.
As the property market landscape continues evolving, the Boxing Day Bounce offers potential for strategic sellers to unlock new possibilities during the festive season.
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