Looking to sell your home before the new year? Well, it turns out Boxing Day might be your golden opportunity to secure a sale.
In 2022, retail company Rightmove found they had a record number of new sellers who decided to put their homes up for sale on Boxing Day, this was a significant 46% increase from 2021. This puts a whole new spin on shopping the Boxing Day sales.
Property experts at Martin & Co. say that surprisingly the best time to sell your home is Boxing Day despite the majority of people not even knowing about this property sale rush existing. But is this true?
So if you've tried all the home improvements to add value and are still not having any luck with sales, you may want to wait until the Boxing Day boom.
Is Boxing Day a good day to sell a house?
You may think that selling your house or buying a house is one of the last things that would come to mind over the festive period never mind the day after Christmas. However, the data shows that perhaps most others don't think this way. "You should list your home for sale when the maximum number of buyers are actively looking" advises Ellie Hall, managing director at Martin & Co.
"Over the last five years, Google searches for “selling your home” have peaked by an average of 56% between mid-December and January, showing that typically there is a surge of interest around Boxing Day," Ellie continues.
By choosing to sell during these busy periods, you're not only more than likely to get a lot more offers but can also afford to increase the price due to the high demand of buyers. Maybe it's time to rethink the paint colours that could devalue your home and start that project to make your house look expensive from the outside ready for new year viewings.
On the other hand, there are some differing views about this festive phenomenon, speaking to Mark Manning, the managing director of Yorkshire-based estate group Manning Stainton, he says that the busyness of the day doesn't always translate to successful sales.
"When you take a step back and analyse who is looking and their intent, it’s clear it’s simply not the best time to list your property. This isn’t always a time when serious buyers come out in the search for their next home," explains Mark.
So whilst the market is no doubt busy, perhaps not everyone will make the sale they've been hoping for. Even if your irresistible 'quiet luxury' decor adds value to your home you still might not find the right offer during the Boxing Day boom.
Is Boxing Day the busiest day on Rightmove?
It's not just the general property market that sees this surprising increase in selling and buying activity, Rightmove the UK's largest online real estate property portal also sees a significant influx on Boxing Day. In a report published in December of this year, it was revealed that the number of homes being listed by estate agents on Boxing Day nearly tripled since pre-pandemic 2019.
"We typically see a post-Christmas upturn in buyer activity, with early-bird buyers finishing off their turkey dinners and starting their search for a new home for the new year," explains Tim Bannister, Rightmove's property expert. He says, "It’s a key reason why we’re seeing more new sellers come to market on Boxing Day, ready for their properties to be the first seen by prospective new buyers."
One of the main reasons for this trend is the feelings the new year brings, most people who have been wanting to move or sell will see the end of the year as a time to start fresh and finally move into a new home.
Looking at the data and Rightmove's reports there's no denying that people are sat on their sofas looking at properties for sale on Boxing Day. However, as Mark points out, site searches don't always amount to a successive sale or even a worthwhile offer. So whilst it is a good idea to make sure you're home is listed in time for Boxing Day, should you want to sell of course, don't be disheartened if that doesn't translate to your desired offer on the big day.
