Istock

Record number of early year sellers but challenges still persist amid future uncertainties according to Rightmove




The number of ‘early bird’ new sellers coming to the market since Boxing Day has given buyers “the highest level of choice at the start of a year since 2015”, according to Rightmove.

Meanwhile, the number of properties coming to market at the start-of-the-year period is 11% higher than the previous year.

Also seeing an 11% increase over the same period is the number of sales being agreed, while the number of buyers contacting agents about properties for sale since Boxing Day is 9% ahead of last year.

Rightmove also recorded its busiest start to a year for mortgage in principal applications, the company said the average number of homes for sale per estate agency branch is currently at the highest for this time of year in 10 years.

Despite the increases, the firm also recorded the largest jump in prices at the start of the year since 2020, with a rise of 1.7% (+£5,992) this month to £366,189 — while new seller asking prices are down almost £9,000 from May 2024’s peak.

Rightmove also said that mortgage rates remained ‘sticky’, with its weekly mortgage tracker showing average five-year fixed mortgage rate is now 4.75% compared with 4.78% at this time last year.


The company said there are also uncertainties ahead, such as the pace and number of interest rate drops and the impact of the stamp duty deadline on 31st March.

Colleen Babcock, property expert at Rightmove, commented: “New sellers have started the year with a bang, with a record number coming to market not only on Boxing Day itself, but across the start of the year to date.

“We’ve also seen a strong start to the year in new seller asking prices, though given the higher-than-anticipated seller competition, we would expect this to slow down over the next few months.

“The record number of sellers we’re seeing is a double-edged sword. It’s encouraging to see so many sellers with the confidence to come to market, providing buyers with fresh choice.

“However, with lots of homes for buyers to consider, sellers will need to work even harder to stand out from the crowd and attract a buyer.

“This could be with a tempting asking price, standout home features, immaculate presentation of the home, or a combination of all of these.”

Leave a comment