Rightmove reveals record Boxing Day bounce

Record number of sellers came to market on Boxing Day, according to Rightmove.

The portal said it recorded a 26% increase in new sellers, beating the previous record of last year.

Buyers also got their new year moving plans in motion on Boxing Day, with the number of buyers contacting estate agents about homes for sale almost quadrupling from Christmas Day, and 17% higher than Boxing Day last year.

Visits to the Rightmove platform were up 84% between Christmas Day and Boxing Day and were 8% higher than 2022, the property website said.

Rightmove’s property expert Tim Bannister said: “The scale of this year’s Boxing Day bounce is an early positive sign at the start of the year that buyers and sellers are out there and taking action, likely including some movers who had put their plans on hold last year.

“Whilst it is early days, it will be key to monitor activity as it ramps up through the end of winter and into spring, particularly to track whether sellers are pricing attractively enough to agree a sale with a buyer quickly, given buyers now have more choice to consider than last year and are still very price sensitive.”

Commenting on the figures, Nathan Emerson, chief executive of Propertymark, said: “Positivity is clearly resonating on the property market even though Christmas is normally a quiet period for the property sector.

“Rightly so, sellers are clearly not deterred by the latest inflation figures or interest rates as optimistic signs start to emerge and are demonstrating confidence in the market. This is the positive type of news that Propertymark hopes to see more of throughout 2024.”