According to the latest insights from Rightmove, the UK’s largest property portal, Thursday, 28th March, marked a significant day in the 2024 housing market calendar. This day, just before the long Easter weekend, saw more sellers listing their homes for sale than any other day of the year so far. This wasn’t a random spike; it was a strategic move by thousands of homeowners across the country, all aiming to catch the eyes of potential buyers during the holiday break.
Interestingly, this day became the third biggest day for new property listings since August 2020, trailing just behind Boxing Day of 2022 and 2023. It appears that just as Boxing Day has become synonymous with shopping sales, the day before the Easter weekend is now becoming a key moment for those looking to sell their homes.
A Surge in New Listings
The data reveals that there were 45% more homes added to Rightmove on Thursday, 28th March than the previous Thursday. Homeowners were clearly eager to take advantage of the Easter break, a time when potential buyers might have more free time to browse and consider new properties. This strategic timing indicates a savvy understanding of the market, with sellers betting on the increased attention from home hunters over the holiday weekend.
The Housing Market Springs Back
Following a somewhat subdued 2023, the housing market has shown signs of recovery. Rightmove’s figures show an average asking price increase of 0.8% over the past year, with the average price now standing at £368,118 across Great Britain. This gradual rise in prices is a positive sign for the market, reflecting a growing confidence among sellers and buyers alike.
However, the recovery and price increases are not uniform across the country. A look at regional price variations since March 2020 reveals a fascinating landscape of growth. Wales, for example, has seen a staggering 29% increase in asking prices, while London’s market has grown by a more modest 8%. These variations highlight the diverse nature of the UK’s property market, with different regions experiencing their own unique market dynamics.
Expert Insights
Tim Bannister, Rightmove’s property expert, said, “A huge number of new sellers came to market as we all geared up for the Easter break, all hoping to capture the attention of those buyers using the long weekend to home hunt alongside their Easter egg hunts. It’s still a price sensitive market, so while the uptick in activity we’ve seen over the past few months is a positive sign, sellers still need to heed the advice from their agent on pricing competitively to help secure a successful sale.”