Eager home sellers got the year off to a good start before it had even begun, with over 10,000 properties put up for sale on Boxing Day 2023 – the highest number of new listings in one day since 2011 (source 1). This momentum carried over into the new year as estate agents received a record number of requests for in-person home valuations in January.
Sellers were not the only ones returning to the market – at the start of the year, buyer enquiries were up by 7% when compared with the same period in 2023. This translated into 16% more sales agreed in the first six weeks of 2024 than last year.
Get the price right
Rightmove’s Property Expert, Tim Bannister, advised that many buyers are still “price-sensitive” despite the increase in confidence. A report from the property portal therefore reflected that ‘The housing market appears to be operating at two-speeds. Some sellers coming to market with too high an asking price are ending up needing a reduction later. Sellers who price right first time are seeing their homes sell the most quickly, without the need for a reduction, to be able to secure a buyer.’
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1 Rightmove
