Market Brief: Christmas wishes and looking ahead to the new year
As I am writing this, the fallout of the historic Conservative election win is still unfolding! However, it is almost certain that we will ‘get Brexit done’ on 31 January and this will hopefully bring greater stability to the housing market. We have already seen a ‘Boris bounce’ with the value of the pound surging - an indication of greater confidence in our economy.
Despite the pre-election uncertainty, December has been busy with a good number of sales. There are quality buyers out there at the moment and with fewer people viewing properties ‘on spec’, properties that are priced correctly and presented nicely are attracting good offers.
As always, Christmas is often a time when people have the time to ‘switch off’ from work and think about making plans for the future. As I mentioned last month, Rightmove always sees a ‘Boxing Day bounce’ – one of the site’s busiest days of the year, with the period between Christmas and New Year also busy. For many people, having run out of small talk with the family, browsing the property listings is great escapism!
As a result, we would typically expect a rush of new properties coming to market and new buyers beginning their search in January. Only time will tell as to whether this happens quite as profoundly as in other years, although it is my prediction that the market will get busier – people will still want to move forwards with their lives regardless of the wider political situation.
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I think all there is left to do is to wish you a very Merry Christmas and Happy New Year!