The Boxing Day BOOM!

Christmas and New Year always proves to be a busy time for property portals and websites. Rightmove’s director of property data Tim Bannister says: “Boxing Day traditionally signals the start of activity ramping up as people turn their attention from turkey and trimmings to their plans for the year, and activity is set to increase further as January unfolds and people start to settle down into a routine after the December break”. In 2022, Rightmove said the number of people contacting estate agents to value their home between Boxing Day and New Year’s Day was the highest number recorded in a week since early September in 2022.

The Bank of England has said that if inflation rates (the rate at which the cost of items increases) decrease, the base rate will also decrease with it. The bank predicts that the base rate may continue to fall to by the end of 2023 and keep falling throughout 2024. With these hopeful predictions for the new year, if you’ve struggled to get on the ladder in 2023 due to higher rates, you might find it easier to do so next year.

With this in mind, if you are thinking of selling, it may be important to have your property listed ahead of the Christmas period and ready for the new year!

We are a leading independent, full service agent with 30 years’ experience in selling and letting property. Just call your local Paul Fox Branch for advice on selling your property.