Maybe time spent off work and with the family over the Christmas period are two of the reasons why the week between Boxing Day and New Year's Day is such a busy time for the property market.
Research released by property portal Rightmove reveals that across the UK a record number of new sellers put their property up for sale on Rightmove on Boxing Day.
December 26, 2022 saw a 46% jump on new sellers compared to the previous year, resulting in what the company are calling the 'Boxing Day bounce', as home-moving activity starts to ramp up following the usual Christmas lull.
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Extend that period into the week after 'the bounce' and Rightmove say that many future sellers also made one of the first steps to putting their house on the market for sale, by sending a request to an estate agent to come out and value their home as soon as possible.
The week commencing December 26 was the busiest week for these valuation requests since early September 2022, peaking on December 28 as some people returned to work following the bank holidays. Valuation requests were 29% higher compared to the same time last year.
Rightmove's property expert Tim Bannister says: "Boxing Day is traditionally the start of activity ramping up into January and the spring selling season after Christmas, as people return to their search or consider a New Year move. We've seen some promising activity and familiar patterns over the festive period this year, which are good signs for the year ahead.
"While we expect a calmer market this year than we've had since the Covid pandemic started, the record number of sellers who chose to come to market this Boxing Day indicates there is a group of motivated sellers ready to move, who perhaps held back and now feel more confident.
"The jump in number of views of properties for sale pre and post-Christmas is another good sign that the new choice available is getting a lot of attention from future buyers. After a pause for the festivities, those wanting to buy this year will be ready to get back to their plans and assess where they'd like to live and what they can afford.
"Those sellers who got a head start and have their home already up for sale will now be benefitting from the jump in viewings over the next few weeks, as people settle back into their usual routines."
On a Wales national level, estate agents are seeing this strong week of activity but it is not an unexpected Christmas present, it is a well prepared period of property activity that occurs every year, but the level of seller properties and buyer interest is harder to predict each year.
Nathan Walker, sales director at Cardiff estate agents CPS Homes says: "The Boxing Day launch is something that has grown year after year. It's something that we love because it allows us to do all of the preparation work, meeting clients and valuing their homes throughout December to then have a rush straight away in the new year to kick things off, and this year has been no different, the interest has been incredible."
Rightmove suggest that after such frenetic market conditions over the last few years, as the property pendulum starts to swing from sellers to buyers, a calmer market into 2023 will better suit measured movers who prefer to take their time to find the right property.
Nathan Walker comments: "Obviously, the rise in interest rates has impacted the volume of buyer enquiries, but that's not a bad thing.
"It's so nice to be able to actually have time to talk to buyers again to get to know them and their criteria instead of just firefighting and the onslaught of phone calls from disappointed buyers that were too late to book a viewing - that's what it had been like over the last 18 months."
Amanda Field from Fine and Country Monmouth and Archer & Co has noticed more confidence returning to the market in the Monmouthshire, Newport, Chepstow and Caldicot areas since the fall-out from the UK government's 'mini-budget', culminating in a lively festive period.
Amanda says: "Our phones were extremely busy in the week to the new year - we are certainly seeing confidence coming back and more properties coming to market, with market appraisals higher than in November already. We always welcome a more normal market, this is where a good agent who provides the service our sellers deserve will stand out.
"People are still moving out from the city and other areas for the country lifestyle that Monmouth and its surrounding area offers. The town itself will always be an area of choice with its high end shops and very popular schools both public and private.
"The county as a whole has seen its popularity increase even more over the last couple of years, the open and rolling countryside for which Monmouthshire is well known is still has a huge draw and always will be, and this has not changed from what we see so far in 2023.
"Activity is definitely ramping up, our diaries are filling up with view valuations and buyer viewings, so I'd say now is the time to have your property on the market, because buyers are in abundance."
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