Christmas is around the corner and property demand is expected to spike as it typically does around this time of the year. Agents can take advantage of the opportunities available during this busy season.
People often misjudge the festive period, as they assume the slowing down of life in general reflects the property industry, too. This is far from the truth.
Traditionally, from the start of December leading into the new year are some of the busiest months. This is because people have more time to attend viewings, browse properties and prepare for a property move.
With the festivities nearby we analyse why demand spikes so much over Christmas and how to prepare for the sudden increase that is on the way.
Moving promptly is the top priority
Christmas is that time of year where people around the world relax and the pace of life tends to slow down. Although this is true for people’s personal lives, it is by no means the case for the UK property market.
During this time of year, people’s priorities often take a turn. Whether downsizing a property or hoping to get a child into a good school, these new changes in priorities often involve moving to a new location.
In a recent survey conducted by Opinium Research on behalf of Santander Bank, it was revealed that one in four parents buy or rent homes in specific locations because they are catchment areas.
Those looking to get settled in a new home before the start of term-time or the beginning of a new academic year in September 2022, may look to act now.
Christmas means more spare time
Throughout the festive season, people have more spare time, leading them – more often than not – to property searching.
Statistics from Rightmove show that this time last year there was a huge surge in the number of people browsing properties on the website. On Boxing Day, the number of people browsing the online portal and property website was up by 54% compared to Boxing Day 2019.
Furthermore, Rightmove reported that between December 1 to December 28 last year, the number of people browsing homes was 57% higher than the previous year.
The high number of budding homeowners and home movers does not stop there. Zoopla also reported a huge influx of website traffic as this was 70% higher during Boxing Day 2020 compared to Boxing Day 2019.
Historical and contemporary factors support a busy property market
With Christmas around the corner and the new Omicron variant potentially leading to new restrictions, people are expected to have more time on their hands and spend even more time indoors than usual over the festive period. Very often, this time will be spent browsing for property.
Interest initiated over the festive period will typically then be acted upon in January, which is usually the busiest time of the year for the property portals and agents as the kids return to school, the holidays are over and New Year’s resolutions – and a fresh way of thinking – are in play for many.
This busy period – while good news for agents up and down the country – also increases the likelihood of more fall-throughs occurring, which is where alternative plan B solutions like chain repair and part exchange become worth their weight in gold.
Here at HBB Solutions, our team of experts can help to make all the difference during the Christmas and early New Year surge, to ensure property transactions are kept on the straight and narrow if they seem in danger of collapsing.
You can find out more information here or by calling 01509 680 065.