December can be an extremely busy month in general, let alone when you’re looking to buy or sell a property. This time of year conveyancers across the nation are under pressure to complete transactions by the 18th December, to get people moved in time for Christmas.
We’ve highlighted how UK home-owners looking to sell in 2016, can use the Christmas period to best maximise their property selling potential.
For those in no rush to be sold by Christmas, the pressure of selling takes a back seat until the New Year. However properties already listed are in a strong position as the market springs back to life at the start of the year. Property website Zoopla is tipped to launch their biggest TV campaign to date this Boxing Day and, alongside Rightmove, will help drive an increase in buyer activity. It’s no surprise that these marketing campaigns start on the 26th, as it’s known in the online property world as the Boxing Day bounce.
Last year Rightmove received over 1 million visits from home buyers on Christmas Day alone, as house hunters logged onto their shiny new tablets and smart phones to search for property. With the latest iPad Pro remaining one of this year’s most sought after gifts, it’s likely the major property websites will receive the same amount of traffic again this year.
Of course no one will be looking to push through a sale on the 25th and perhaps not until the New Year is rung in, but having your property visible during this time, will vastly improve your chances of selling. Data from Rightmove last year shows that traffic figures increased from 1 million on Christmas Day, to over 1.6 million on the 26th, as the Boxing Day bounce kicked in. This then climbed to a whopping 3.3 million visits on New Year’s Day.
But it isn’t just the number of website visits that can benefit your property sale during the holiday season. Rightmove’s data also shows that in 2015, January and February were two of lowest months recorded for the average stock listed per an agent, with only December having less.
This lack of stock, coupled with an overwhelming demand, inevitably lead to a hike in prices, with the average asking price increasing by 1.4% in January and a further 2.1% in February, the second highest monthly increases with only June seeing a bigger jump.
By having your property listing alive and kicking over the festive period, UK sellers can hit the ground running in 2016, maximising the price they can achieve for their property considerably.
Founder and CEO of eMoov.co.uk, Russell Quirk, commented:
“The festive season is traditionally a time that benefits the buyer during the selling process, as UK sellers look to push through a sale before Christmas at any cost, even if this means a reduction in the price they achieve.
However by planning ahead and preparing to sell in 2016, home-owners can really use the holiday season to their benefit, rather than their detriment. The combination of high buyer demand and low stock at the start of the year, offers the best chance for sellers to maximise the price they can achieve.”
With this in mind sellers can take advantage of the festive season with the help of eMoov by:-
- Sign Up Early: Signing up their property prior to the Christmas rush and organising their floor plans, online listing and photographs so everything is in place and ready to go live at the click of a button.
- List When They Want: Once complete they can hold off on listing their property online until Christmas Day, by-passing the bargain hunters and securing a substantial buyer footfall to their property advert. With eMoov’s customer platform, all they have to do is log on and set their listing live online with the click of a button, whenever they feel is the best time for them.
- DIY Touch Ups: In the week between Christmas and New Year when many of us take time off of work, sellers should consider making those minor DIY improvements they’ve been putting off, in order to boost their property appeal. With their property also visible online during this time it will also interest as aspirational buyers search the market.
- Utilise Low Stock Levels: By the time the Boxing Day bounce kicks in their property will already be listed on all of the major property portals, giving them a head start and making it visible to the millions of potential buyers, during a period when the stock available is also low. This lack of property competition and substantial buyer demand will not only increase interest in their property, but also result in a better price achieved.
- Don’t List Low & Then Increase: It can be tempting to list your property during the Christmas period at a lower price than you would be happy with, in order to attract more interest, before increasing your asking price in January and creating the illusion that it’s a new listing. At eMoov we don’t recommend this as all of the major portals will record the historic price data of a property and this sudden jump in price could deter potential buyers.
- eMoov’s top tip: Throughout the month of December we are offering a special discounted Christmas deal. If you sign up with either of our packages, we will give you £100 off the package price, as well as a free premium listing on both Rightmove and Zoopla. That’s a saving of £220 to go towards the cost of Christmas and, you can have everything in place, ready to send your listing live on Christmas Day. What’s more with the premium listing you can increase the footfall of potential buyers to your property advert by 25%.