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Is The Boxing Day Boom For The Property Market A Reality?

There are certain months of the year when the market is quieter than usual, and typically they are found in summer and at the very start of winter.

It is no surprise that each year around November and December, house price indexes record lower sales and estate agents report lower interest from buyers and sellers alike.

The reason for this is fairly self-evident; with multiple holidays between Halloween and Christmas, people are more focused on preparing for the festive season and winding down ahead of holidays and the new year ahead.

This includes conveyancers, solicitors, lenders and estate agents themselves, who will often close for a few days over the holiday season.

However, one day proves to be a regular exception to this rule.

The 26th December, better known as Boxing Day, attracts a spike in buyer interest that is unusual compared to the relatively languid winter months and often is used as a way to gauge the potential interest buyers and sellers will have in January.

The reason for the Boxing Day Boom is as self-evident as the reasons why there is a slump in winter; people have time to look.

Most people are off work for at least Christmas Day and Boxing Day, and whilst most people are too busy with family gatherings, festive celebrations and delicious food on the 25th December, the next day often gives people a bit more free time.

Free time, discussions with family and a general optimistic look towards the promise of a new year lead to people taking their first steps towards looking for a new home.

This typically results in, at the very least, browsing estate agent websites in their area to see what is available in their budget, which puts them on the first tentative steps towards buying a new home early in the new year.