At this time of year, selling your home will probably be the last thing on your mind – but if you'll be looking for a sale in January, now could be a great time to get the ball rolling…
This is the key week for many conveyancers, who will be under pressure to complete transactions by tomorrow to get people moved in time for Christmas. However, even if you're in no rush to sell right now, you can use the Christmas period to your advantage and maximise your selling potential.
According to research from online estate agent eMoov.co.uk, properties already listed are in a strong position, as the market instantly springs back to life at the start of the year. In fact, many property websites begin their advertising campaigns on or around Boxing Day, a phenomenon known as the 'Boxing Day bounce', to set people up for the year ahead.
In fact, last year property website Rightmove received over 1 million visits from home buyers on Christmas Day alone, and over 1.6 million on Boxing Day – and it climbed even higher to a whopping 3.3 million visits on New Year's Day. Of course, securing a sale will be the last thing on anyone's minds, but having your property advertised online during this key browsing time can make the world of difference to your selling potential.
However, it isn't just website visits that can boost your chances of securing a sale – having your property listed at this time of year can also help secure the best price. Rightmove's data shows that December, January and February tend to have the lowest number of homes listed per estate agent, and this lack of stock, coupled with the huge level of demand, leads to an inevitable increase in prices.
In fact, this year, the average asking price rose by 1.4% in January and a further 2.1% in February, so by having your property listed over the festive period, you can dramatically increase your chances of getting the price you want in the New Year.
"The festive season is traditionally a time that benefits the buyer during the selling process, as UK sellers look to push through a sale before Christmas at any cost, even if this means a reduction in the price they achieve," said CEO of eMoov.co.uk Russell Quirk.
"However, by planning ahead and preparing to sell in 2016, homeowners can really use the holiday season to their benefit, rather than their detriment. The combination of high buyer demand and low stock at the start of the year offers the best chance for sellers to maximise the price they can achieve."
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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