Home Transactions Strong In Final Quarter
The final quarter of the year is statistically the busiest time for home completions.
According to a 5-year analysis of Land Registry data, by Housesimple, and average of 241,113 transactions complete between October and December.
As people prepare to be in their home for the festive period, October remains the most hectic time with an average of 81,974 transactions taking place.
However, the data indicates that, on average, 79,266 and 79,873 transactions complete in November and December respectively.
A key house builder has also speculated about a strong start to 2020 as potential buyers use the holiday season to research and prepare for a property purchase in the new year.
Barratt Homes have said that the two–week period after Boxing Day is the busiest time for home enquiries.
Sam Mitchell, chief executive at Housesimple, commented:
“There is no denying that timing plays a key role in selling a home and an uplift towards the end of the year is a clear sign of people looking to complete on their property before Christmas comes and a New Year begins.
“Expect to see a sudden rush in social media posts over the next couple of weeks as lots of people share photos of their new homes and the ‘key in front of the door’ shot, moving in with just enough time to get the decorations up for Christmas.”
Richard Lawson, sales director for Barratt Homes, said:
“Christmas and New Year is fast becoming our busiest period for enquiries, so we prepare to meet this demand by making sure we’re very much open for business.
“As well as online enquiries we also see an increase in visits to our sites so potential buyers are free to visit us once they’ve had a browse online.
“We inevitably spend more time at home at Christmas than any other time of year, and the New Year is always a time for people to assess where they are now and consider what changes they want to make in the year ahead.
“It seems that this period leads a great many people to make the decision to move, and to start the new year with a new home.”
How busy has the conveyancing sector been over the last quarter of 2019? Do you usually notice an upturn in activity in the new year?