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Housing market supply and demand soared after Christmas

Housing market supply and demand soared after Christmas
Christina Hoghton
Written By:
Christina Hoghton
Posted:
05/01/2024
Updated:
05/01/2024

The number of buyers contacting estate agents about homes for sale jumped by 273 per cent between Christmas Day and Boxing Day.

According to Rightmove, this demand from buyers was 17 per cent higher than Boxing Day in 2022.

The property portal added that a new record number of sellers put their home up for sale on Rightmove on Boxing Day, a 26 per cent increase on the previous record the year before.

Visits to the Rightmove platform nearly doubled (+84 per cent) between Christmas Day and Boxing Day, and were 8 per cent higher than last year.

Rightmove’s property expert Tim Bannister said: “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.”