Will my home sale complete over Christmas? - The busiest home selling spots between Christmas and NY revealed
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Like the rest of the nation, the UK property market will wind down significantly between Christmas and the New Year as many take time off to spend with family and to fully enjoy the festivities. However, this doesn’t necessarily mean you have no chance at all of seeing your sale or purchase complete over the festive break.
We analysed market data on residential property sales between the 25th and 31st December.
The figures show that during this seven-day period, 195 property sales completed across England and Wales last year.
To put this into perspective, throughout the whole of 2019 an average of 16,018 transactions completed on a weekly basis.
So those that did complete between Christmas and New Year represent just 1% of total sales that would usually complete during an average week.
Christmas sale hotspots
In terms of the Christmas property selling hotspots, London tops the table. Last year as many as 40 sales completed between Christmas and New Year, with Hampshire (10) and the West Midlands (10) also seeing double-digit home sales during the festive season.
West Yorkshire, South Yorkshire, Nottinghamshire, West Sussex, Oxfordshire, Tyne and Wear, Cambridgeshire, Greater Manchester, Lancashire, Suffolk and Norfolk also saw some of the highest levels of market activity with between four and seven homes completing.
What should you do if you want a Christmas Completion?
The home selling process is a lengthy one, and selling your home fast even in regular market conditions is difficult. It can be hard to get hold of your agent or conveyancer even at the best of times in order to try and push your sale over the line. So it comes as no surprise that during the festive period the number of homes completing falls drastically. Having said that, given the time of year those involved can be forgiven for taking some time off.
However, that’s not to say that you can’t complete during the festive break if you are approaching the finish line where your sale is concerned. While many take the time between Christmas and New Year off, many don’t, and so it’s well worth continuing to chase in hope of completing before the year is out.
Early January is an option for all
Of course, those that are desperate to sell before 2021 is rung in may struggle to do so now, but there are other options that could see them complete in early January.
At Yes Homebuyers we are able to complete on a purchase within as little as two weeks, and so even if a homeowner decided to sell between Boxing Day and New Year this year, we could have the sale completed within the first half of January 2021 for them.
Table shows the areas with the most sales completing between 25th and 31st Dec.
Source: Land Registry Price Paid Data
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