CHRISTMAS IS A GOOD TIME TO SELL SAYS LOVEITTS

23rd November 2017

CHRISTMAS IS A GOOD TIME TO SELL SAYS LOVEITTS

Loveitts is urging vendors not to shy away from the prospect of putting properties up for sale during the Christmas period.

Latest research from one of the UK’s leading online property portals reveals that consumers are just as eager to jump on property websites on Boxing Day as they are on retail sites to check out the latest properties.

It has often been suggested that the prime buyer’s market is the Spring or early Autumn and Loveitts believes it is an argument which had some merit.  Much of the reasoning behind this pointed to the fact that in the main, sellers avoided the summer and winter months as these often fall on peak holiday times.

However, this myth seems to have been well and truly dispelled. 

Right Move has recently published that in January 2016 there were over 127 million visits in the previous December, up almost 20% compared to January 2015, and surpassing the previous record of 118 million set in the previous August.

Not only this, contact by email and phone hit over 4.9 million for the first time ever, a 15% increase on January 2015, and higher than July 2015’s record month of over 4.8 million. Similarly, the nation collectively spent the equivalent of over 2,000 years browsing Rightmove in January and the busiest day was Tuesday 26th with 4.7 million visits.

This has not been a recent trend either. Right Move reported on Christmas Day 2013 that there were nearly 14 million page views and over 10,000 people took time out from the festivities to send emails to agents.

On Boxing Day it became even busier, with page views jumping to over 25 million, up 21% on 2012. Views peaked on New Year’s Day, at over 38 million page views.

Loveitts suggests that this upturn in the property market in the last 5 years has followed retail patterns where people look for the best deals in and around the Christmas and New Year period.

A key factor to why this upsurge has come about in the last half decade has been attributed to the surge of iPhones and smart phones that have overtaken the retail market in recent years.

With many people unwrapping an iPhone or Smartphone on Christmas Day the ease to search properties at a click of a button is increasing every single year.

Chris Priestley, Head of Residential Sales at Loveitts believes these statistics will provide vendors with the confidence to put their property on the market.

“The growth in sales enquiries over the Christmas and New Year period has been growing year on year and we anticipate we will see an even greater number of enquiries this year.

“With the advent of the internet, the way we search for property has changed dramatically. This is also a time of the year where there is less property on the market so as a seller your competition levels are lower.

“These stats show that purchasing a property is still a high priority for those that have the ability to purchase. A pro-active agent will see a high level of sales throughout December and this has always been the case, but it is good to see some hard evidence to back it up”

Established in 1843, Loveitts is now the largest independent multi-discipline practice of estate agents, chartered surveyors, valuers and auctioneers in the region with offices in Coventry, Nuneaton, Leamington Spa and Southam.