As we approach the end of 2024, new data released by Rightmove shows that the UK property market has experienced a slight dip in December, with house prices falling by approximately 2%. Despite this seasonal decrease, influenced heavily by the festive period’s distractions, the overall market remains 1.4% higher compared to December 2023. Industry experts anticipate a ‘Boxing Day bounce’, a phenomenon where buyer and seller activity surges immediately after Christmas, driven by new motivations for the upcoming year.
Seasonal Adjustments and Market Resilience
December traditionally sees a slowdown in house pricing as focus shifts towards the holiday season. This year, the average price of property coming to the market saw a reduction to £360,197, a drop that aligns with seasonal expectations yet continues to demonstrate year-over-year growth. This resilience is a testament to the strength of the UK property market, which has navigated a complex landscape of high inflation and interest rate challenges throughout the year.
Looking Ahead: The Boxing Day Bounce
The concept of the ‘Boxing Day bounce’ is becoming increasingly significant in the UK housing market calendar. This trend is characterized by a sharp increase in online property searches and activity starting on December 26th, as prospective buyers and sellers begin to plan their moves for the new year. This spike is typically fuelled by individuals looking to get ahead in the competitive market, often motivated by changes in stamp duty rates and other fiscal policies expected to take effect in the new year.
Strategic Insights for Home Sellers and Buyers
For those considering selling their homes, the period immediately after Christmas is an excellent time to prepare for the increased activity. Ensuring that your property is valued correctly and ready for viewing can place you in a strong position to capitalize on the influx of motivated buyers. Conversely, prospective buyers can benefit from the increased number of listings and potentially more negotiable pricing during this period.
The Role of Doree Bonner International
At Doree Bonner International, we are committed to assisting our clients through their property transitions, whether they are moving locally or internationally. Our services are designed to ensure a seamless move, providing expert packing, secure storage, and comprehensive relocation services that cater to the unique needs of each client. As we move into 2025, Doree Bonner International continues to support our clients in navigating the evolving landscape of the UK property market.
For more detailed insights into how we can assist with your specific moving and domestic storage needs, or to get a free quote for our services, please visit our Services page or contact us for a free quotation.
