Martin Roberts gives tips for getting on the property ladder
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Property experts at London-based fintech company, Proportunity, revealed the key date in the property calendar for buyers. The property experts said Boxing Day is the perfect opportunity for buyers to find a new home. Data from Proportunity’s home finder platform shows that there are 100 percent more homes listed as available for sale on this day.
The site’s house price growth index indicates a corresponding price decrease in February, making Boxing Day one of the best opportunities for buyers.
The surge in Boxing Day searches for property is also known as the “Boxing Day Bounce”.
It’s thought that homeowners are encouraged to search for new homes after being in their home setting with family and friends for an extended period of time.
The Christmas period can highlight problems with homeowners’ properties.
Having friends and family to stay over at Christmas can highlight the need for a spare bedroom, an extra reception room or even more outside space.
Proportunity co-founder and CEO Vadim Toader said the market has completely transformed this year.
He explained: “Traditionally, people concentrated on getting their properties ready for sale in the spring.
“But over the last five years we’ve seen interest in property searches skyrocket in winter with record numbers logging on to the internet on Boxing Day.
Alan Titchmarsh ultimate tip for making Poinsettia last until Easter [INSIGHT]
Christmas cactus: Where to put ‘easy to maintain’ plant in winter [UPDATE]
Kirstie Allsopp health: The ‘number one risk factor’ of breast cancer [ANALYSIS]
“It can be the busiest day of the year for some property websites with millions of potential buyers scrolling through listings.
“At Proportunity, this has translated into a jump in sales volume in March, a rise which usually continues throughout the summer.”
Mr Toader shared some of his “top tips” for buyers who are looking to buy after Boxing Day.
He said: “My top tip, especially for first-time buyers, would be to try and do viewings as soon as possible after Boxing Day, placing offers in January, allowing for plenty of negotiation time when housing supply is high, but demand is still relatively low, thus securing the best possible deals in February.”
Looking for a new home, or just fancy a look? Add your postcode below or visit InYourArea
The property expert said people began reevaluating their needs during the pandemic.
Many experts noticed buyers upsizing to detached houses with more garden space.
This has led some buyers to moving out of cities and built-up areas to more rural locations where they can get more space for their money.
Mr Toader added: “People clearly re-evaluated what they wanted from a home after COVID-19 struck and the signs are that the hunger for property continues to fuel huge interest from buyers.
“We’re expecting this Boxing Day to kick off another uptick.”
The UK’s largest property site, Rightmove, said they have seen a 19 percent increase this month in the number of homeowners starting the selling process.
Last Boxing Day, the property site recorded 54 percent more visits compared to the previous year.
There were also more than 51 million visits to Rightmove between Boxing Day and the first working day of the new year.
Source: Read Full Article