New seller asking prices drop by a seasonal 1.7% (-£6,395) this month to £360,197, in line with the usual December monthly fall, with sellers’ pricing power diminishing as Christmas approaches, says Rightmove in its latest index. Prices end the year 1.4% above December 2023, and the portal predicts that new seller asking prices will rise by 4% next year, with forecast mortgage rate drops set to further improve affordability and stimulate market activity. Despite the festive lull, activity remains substantially stronger than the same period a year ago, with the number of sales being agreed up by 22%, and new buyer demand up by 13%.
Some movers could be waiting for the traditional Boxing Day bounce on Rightmove. Boxing Day 2023 saw a record number of new sellers launching to the market for that time of year, providing fresh property choices for buyers, while buyer demand jumped by 273% between the Christmas Day lull and Boxing Day. Rightmove’s real-time data also captures the impact of the looming stamp-duty deadline on March 31 2025. Sellers of smaller properties in higher-priced areas are trying to beat the deadline to avoid higher taxes. Despite the signs of a stronger 2025, headwinds remain, with the impact of Budget measures being a challenge.
