It is known as the “boxing day boom” when all estate agency portals receive the highest surge in traffic throughout the year. From Rightmove to Zoopla, the demand recorded by these platforms skyrockets to numbers often unseen through the rest of the year.
Rightmove report that the number of home valuation requests in the first week of January this year was up 44% on the previous year, demonstrating the strength of the market when compared to pre-pandemic figures but highlighting the fact that many new listings in January miss that all important increase in interest.
Rightmove’s House Price Index for January 2022 showed a surge in the number of buyers enquiring about homes of 15% year-on-year. Of those enquiring about a property, 40% were yet to put their property on the market.
Of course, the market was very different at the start of 2022 than it will be in 2023, with the war in Ukraine continuing, increasing fuel prices, and general increases in inflation and mortgage rates, but despite the gloomy economic outlook, we continue to experience a good level of buyer interest, suggesting that whilst demand might be muted, the housing market for 2023 should start relatively strong.