Activity stronger than a year ago in spite of usual seasonal lull

Despite the festive lull, property market activity remains significantly stronger than the same period last year. According to Rightmove’s latest index, the number of sales agreed is up by 22%, while new buyer demand has risen by 13%.

New seller asking prices have dropped by a seasonal 1.7% (£6,395) this month to £360,197, reflecting the typical December price dip as sellers’ pricing power weakens in the run-up to Christmas. Prices end the year 1.4% higher than December 2023. Rightmove predicts that new seller asking prices will rise by 4% in 2025, with expected mortgage rate reductions likely to boost affordability and stimulate market activity.

Some movers may be waiting for the traditional Boxing Day bounce on Rightmove. Boxing Day 2023 saw a record number of new sellers listing properties, providing fresh choices for buyers. Buyer demand surged by 273% between Christmas Day and Boxing Day.

Rightmove’s real-time data also highlights the looming impact of the stamp duty deadline on 31 March 2025. Sellers of smaller properties in higher-priced areas are aiming to sell before the deadline to avoid higher tax charges. While signs of a stronger 2025 are emerging, market headwinds remain, with the impact of Budget measures posing a potential challenge.

Don’t miss our next article, subscribe to our news updates…