If you’re already cosily ensconced in your new home this December, congratulations – we hope you’ll be very happy there.
But if you’re still considering selling a property, you may think that Christmas is best used for research, reflection about what you want to do, and perhaps planning your next move – rather than actually doing it.
And, in some ways, you’d be right. But, as we approach the festive period, you may be surprised at how many people are still keen to view potential new pads. So you don’t necessarily have to wait until January. Indeed, if you do wait until next year, you could find you’re up against greater competition, either from other buyers if you’re purchasing a new home or a greater pool of places if you’re selling.
Here are some reasons why putting your home up for sale this month could be a smarter move than you may have realised:
- In December, with fewer properties traditionally coming onto the market, you could find yours stands out more than it would in January. And if it does, you could see prospective buyers in a frame of mind to take the plunge immediately, instead of dragging their heels until January. Indeed, Christmas-time purchasers are typically committed to quick completions.
- Buyers may have more time to browse property listings – one year recently, a major portal reported a whopping 10 million views on Christmas Day! There also tends to be a surge of online viewings on Boxing Day.
- The Christmas holidays see relatives and friends visiting different areas of the country, potentially providing the chance for people to consider possible moves away from where they live now.
Tips for sealing the deal by December 25
- Don’t overdo the decorations. Sure, show some festive spirit. But viewers need to picture the place at other times of year.
- Be realistic about asking price, and discuss this with your estate agent, even though many potential purchasers at this time of year are ready to move quickly. Your agent will understand the local market and help you pitch accurately.
- Be prepared to show your home before 3 or 4pm, so that viewers see it in daylight. Preparing the outside of your house for a viewing, e.g. by clearing piles of wet leaves, may take slightly longer than usual.
Improving not moving?
Equally, at a time when you’re likely to have some days off, you could consider any improvements you want to make to your home before you sell or let it out, and either research tradespeople or make a start if you’re tackling any work yourself.
This can only improve the value of your home, so you’re in pole position when you do come to put your property on the market.
Time to move on?
What’s more, the suspension of routine for the festivities may mean you realise that, much as you’ve loved your home, it’s no longer working for what you and your household need. So you might start to browse potential new homes at your leisure.
Reasons to be cheerful
Whatever your situation, there are numerous reasons to feel cheerful as Christmas approaches and as we look ahead to a new year.
One major online property portal says its anticipates market activity will drop off this December, but that’s expected and happens most years. However, its prediction for 2025 is that average new-seller asking prices will rise by 4%, its highest forecast since 2021.
The website added that market activity was stronger than it was last year thanks to the Bank of England base rate starting to come down. The volume of sales agreed was put at 26% higher than it was this time last year, while the level of new sellers deciding to come onto the market was 6% greater.
It’s true that there’s been a slight drop-off before and after the recent Budget, which we previously reported on, which again is understandable, not least due to the impact of the rise in stamp duty announced then. But despite the ‘jitters’ around the Budget, forecasts are upbeat, given the anticipation that the Bank of England will cut its interest rate further in the weeks and months ahead. The site expects a ‘stronger 2025’ – both in terms of prices and volumes of properties sold.
(Remember, if you’re a first-time buyer, the elevated stamp duty threshold stays until next year – so there’s nothing to pay on a property costing up to £425,000. In April next year, that figures falls to £300,000 – so perhaps use using the holiday to contemplate a move before this change kicks in.)
One of the UK’s biggest lenders, Nationwide, has predicted that swings in buying activity won’t be as marked as they were after previous stamp duty changes, according to comments from its chief economist.
Meanwhile, one national chain of estate agents says the UK’s average house price is set to rise by 3% in 2025, followed by a further uptick of 3.5% in 2026 and 2.7% in 2027. The same company says rental prices are set to overtake inflation, rising 4.5% next year, and by similar levels in both 2026 and 2027.
Oakfield says
At Oakfield Estate Agents, despite the change of government, economic uncertainties and so on, we’re reflecting on a busy 2024 and looking ahead to an equally active 2025 in our part of the world, East Sussex, and across our specialisms of sales and letting, plus block management.
As Christmas edges closer, it could be a great time to pause and consider your housing situation and whether what you have remains the best option for your life as it is now, and that of anyone who lives with you. Now could be a far better time to put your property up for sale than you may have realised.
Remember, we operate across East Sussex with offices in Eastbourne, Bexhill-on-Sea, Hastings, Uckfield, Lewes and Heathfield. You can browse our website and do a property search to start the hunt for your new dream home, or book a valuation at any time, check out our contact details here.