Spur buyers into action with news of a pre-Christmas price lull:

  • The price of property coming to market drops by an average of 0.6% (-£2,044) compared to last month, the largest monthly fall since January.
  • Before the traditional Boxing Day buyer boom, this late-autumn price lull offers a small window of opportunity for bargain hunters.
  • The number of people browsing properties on Rightmove during the post-Christmas Day festive period has been increasing every year, with visits on Boxing Day last year 54% higher than the previous year.

Urge prospective vendors to prepare their property for sale now:

  • Agents are reporting that many home-owners are getting their homes spruced up ready to sell and get to market in time to ride this new buyer wave.
  • Many agents are actively advising prospective sellers to prepare their property now to be ready for marketing on or after the 26th December.
  • The number of people beginning the selling process by requesting a valuation from an estate agent via the Rightmove website was 14% higher in October than the same period last year, a sign of building momentum.

Encourage budget-strapped buyers to secure their fixed rate mortgage before the widely expected interest rate rise:

With the current price lull expected to last until Christmas, buyers who have seen their affordability sorely stretched in 2021 may also benefit by securing a fixed-rate mortgage before the widely anticipated interest rate rise.

Source: https://www.rightmove.co.uk/news/house-price-index/?utm_medium=email&utm_campaign=cus-ea-all-nh-market-update-hpi-ea-new-early_15-11-21&utm_source=adobe