While spring is regarded as the busiest time of year for property sales in the United Kingdom, there is an argument the market is active all year round. The emergence of online property portals means prospective buyers can search for properties at any time of day or night, no matter where they are.
This has led to an increase in buyers looking for homes in winter, and you may be surprised at how many buyers actively search for homes over the Christmas and New Year period. The New Year Surge is well-known, as people look to make significant changes in their life, but the property market has also felt the force of the Boxing Day Bounce.
People are looking and buying online
This phenomenon was first experienced in the retail sector, with sales drawing in customers, ensuring the post-Christmas period wasn’t too depressing for businesses. In recent years, buyers have gravitated towards online retailers more than traditional outlets, but there is still a sizable market of people looking to spend money at this time. It would seem there is also a demand for homes.
Miles Shipside, Rightmove director and housing market analyst, said in 2018; “The window of maximum buyer negotiating opportunity starts to close from Boxing Day onwards, as more buyers become active in the market. From the low point on Christmas Day, the number of pages of property viewed on Rightmove last year more than tripled (+228%) by the first working day of the New Year.”
In the run-up to the festive period, many people are too focused on other aspects to look at homes they want to buy. However, after the fun of Christmas Day, there is a chance to take things at a slower pace.
This is an ideal time to stay indoors and go online
Some people will be glued to their new smartphone or tablet device, some will have no intention of stepping outside, and you can bet some people are now of the opinion their home is too small for their needs!
Therefore, it is entirely plausible that many households begin their property search in the period between Christmas and New Year, culminating in significant viewers on the first day of the New Year. From the 2nd January, things start returning to normal, and there isn’t a day when the majority of people have free time. Therefore, viewer figures fall, but the interest in property remains high. The start of the year is time for a change, and people turning over a new leaf. This means many people and households are looking for a new home, and if you plan on selling your home in 2020, you need to be listed when people are looking.
Before you partake in too much of the Christmas spirit, consider the benefits of listing your property at a time when most people are looking. If other vendors would rather wait until the New Year, you can steal a march on them, enhancing your chances of engaging a buyer.
If you are looking to sell your home in 2020, the sooner you start, the better. Whether you want a property valuation, or you need assistance selling your home, contact Country Properties Hitchin today.