The number of homes listed on Boxing Day was 26% higher than last year, Rightmove said
The number of new homes that came onto the market on Boxing Day was 26 percent higher than a year ago, figures show.
Most new homes came onto the market in the southeast, followed by the east and the southwest.
Online property platform Rightmove said it was the busiest Boxing Day ever for visits to its site.
Rightmove said most of the properties listed on Boxing Day were three- and four-bedroom ‘middle market’ houses.
More than a third of homes put on the market on Boxing Day were smaller, typical starter homes, with two or fewer bedrooms, Rightmove added.
Only 18 percent of the homes that came onto the market on Boxing Day were larger homes, which tend to be at the top of the property ladder.
More listings: The number of new properties coming onto the market on Boxing Day was 26% higher than a year ago, Rightmove said
Rightmove said that overall buyer demand, measured by the number of inquiries made to agents about listed properties, was 20 per cent higher on Boxing Day this year than a year ago.
Steve Pimblett, Chief Data Officer at Rightmove, said: ‘We’ve seen a record-breaking Boxing Day experience, not only for people turning to the Rightmove platform once the Christmas Day festivities are over, but also for home movers taking action and moving forward come. of a move from 2025.
“Although it is still very early days, these early indicators are positive signs of a busy start to the year for agents.”
In its latest analysis, the Office for National Statistics said house prices rose by 3.4 percent in the 12 months to October, although this is still a provisional estimate.
Recent data published by Zoopla on December 23 shows that property prices increased by 1.9 per cent in the 12 months to November.
Although the number of new homes is increasing, it remains unclear how the housing market will perform in 2025.
As announced in the October 30 Budget, buyers will now have to pay a five percent stamp duty surcharge on second homes and owner-occupied properties.
Stamp duty thresholds, the level at which buyers start paying property taxes, will fall in spring 2025.
For example, the price at which stamp duty is charged will return to £300,000 for first-time buyers, up from the current level of £425,000.
Buyers in the most expensive areas, such as London and South East England, are likely to be most affected by the reduction in stamp duty thresholds, due to the high average property prices in these locations.
While changes in budget taxes and stamp duties could negatively impact the property market in 2025, analysts expect interest rates, and therefore mortgage rates, to fall, which could boost the property market.
Nathan Emerson, CEO of Propertymark, said: “The festival period could prove to be a real inspiration for many who are thinking about potentially moving.
‘Considering the progress the last twelve months have brought to the housing market, it is extremely encouraging to see the increased confidence translating into record numbers of people feeling confident in approaching the buying and selling process.’
He added: ‘We started the year with inflation at 4 per cent and the Bank of England base rate at 5.25 per cent. Both are now steadily heading back down and this in turn contributes to much-needed affordability.
“Overall, we expect an extremely promising start to 2025 as people are in a much more robust financial position than last year.”