Rightmove has unveiled striking data showing a record-breaking influx of sellers entering the market on Boxing Day 2023. This year witnessed a 26% increase in new sellers, surpassing the previous record set last year.
The momentum was not limited to sellers. Buyer engagement soared as well, with the number of buyers reaching out to estate agents about homes for sale on Boxing Day nearly quadrupling (+273%) compared to Christmas Day, and showing a 17% increase from the same day last year.
Website traffic on Rightmove also saw a significant jump, nearly doubling (+84%) from Christmas Day to Boxing Day and registering an 8% increase over last year’s figures. This surge aligns with the traditional post-Christmas boost in home-mover activity after the customary Christmas lull.
Rightmove’s property expert, Tim Bannister, commented on the trend: “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. While 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.”
Nathan Emerson, CEO of Propertymark, reflecting on these figures, said: “Positivity is clearly resonating on the property market even though Christmas is normally a quiet period for the property sector. 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.”