Biggest price drop since January as sellers tempt bargain-hunting pre-Xmas buyers

  • The price of property coming to market drops by an average of 0.6% (-£2,044) compared to last month, the largest monthly fall since January
  • This pre-Christmas price lull offers a small window of opportunity for bargain hunters before the traditional Boxing Day buyer boom:
    • The number of people browsing properties on Rightmove during the post-Christmas Day festive period has been increasing every year, with visits on Boxing Day last year 54% higher than the previous year
  • Agents report that many home-owners are getting their homes spruced up ready to sell and get to market in time to ride this new buyer wave:
    • The number of people beginning the selling process by requesting a valuation from an estate agent via the Rightmove website was 14% higher in October than the same period last year, a sign of building momentum

With the current price lull expected to last until Christmas, buyers who have seen their affordability sorely stretched in 2021 may also benefit by securing a fixed-rate mortgage before the widely anticipated interest rate rise

Read Full Article Here – Rightmove