According to Zoopla’s latest report, Christmas has done little to reduce the UK property market.
The so-called ‘Boxing Day Bounce’, referring to the UK holiday that falls on December 26, saw a 70.5% increase in traffic to Zoopla’s online property portal compared to the same period last year, according to the report, released this weekend. .
This follows what has become the busiest December for the UK property market in almost 15 years, with around 140,000 transactions slated for the month.
“As more and more people are spending more time at home this holiday season, many are finding that their homes fail to deliver that Christmas magic – perhaps because the space is too much. small, that the location is lacking or that it is too far from loved ones. ”Said Tom Parker, consumer spokesperson at Zoopla, in the report.
“Above all, the Boxing Day rebound is not a one-off phenomenon; instead, it marks the start of the New Year’s traffic surge, ”he said. “This is expected to intensify in January given the imminent end of the stamp duty holiday period, which is expected to attract more hungry buyers to the market, eager to find and complete. [the sale] on their dream house before the stamp duty deadline expires at the end of March.
January is set to kick off one of the strongest years for the UK property market, though the impact of increased lockdowns and new travel restrictions – the result of an even more contagious strain of coronavirus – remains unclear.
If anything, the tighter lockdowns will strengthen the movement from city centers to the suburbs and countryside, where larger homes and outdoor spaces are more accessible, Mansion Global previously reported.