'Tis the Season For Christmas Property Facts!

 

Discover Quealy & Co’s fascinating Christmas related tidbits about homes and the property market that will leave you feeling merry and bright... Make yourself a festive hot chocolate and enjoy!

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Most sought-after homes at Christmas are ready to move into!  

As we approach Christmas, 61% of respondents say "Ho-Ho-No!" to any refurbishments or fixer-uppers, wanting to move in hassle free in the countdown to Christmas.

Over a quarter said homes in need of refurbishment are most sought after, on average a merry 8% cheaper than the average property up for sale.

On the other side, those looking for a newly-refurbished home are paying a frosty premium of 19%, or nearly £70,000.

Source: Dataloft Poll of Subscribers November 2023, Rightmove

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Property values have outperformed gold over the last ten years

The Three Wise Men followed a star in search of the newborn king, giving gifts of gold, frankincense and myrrh. However, gifting a home may have been a better financial move.

The average price of a home is currently £291,385, a 65% increase in value compared to a decade ago (£176,097). The value of gold has risen 42% in the same period.

A price moderation is forecast over 2024, however cumulative growth of 5.8% is forecast between 2025 and 2027.

Source: Dataloft, ONS, uk.investing, LBMA. Indicative price performance only. Data to end Sep 2023, HM Treasury Average of Independent Forecasts Nov 2023

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In the time it takes to grow a Christmas tree, rents have grown by 39%  

Resplendent with twinkling lights and cherished ornaments, the Christmas tree is a symbol of warmth, tradition, and the spirit of giving.

The average Christmas tree will grow for 15 years before it's ready for sale. In the same time frame, rents have lit up by almost 40%.

The average monthly rent is £1,417, significantly higher than the £1,018 in 2008.

The Christmas tree tradition is believed to have originated in 16th century Germany, where evergreen trees were decorated to symbolise the paradise tree of the Garden of Eden.

Source: Dataloft Rental Market Analytics October 23 vs October 2008, Thefactsite, christmastreedirect, Zoopla

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Close to £104 billion has been spent on property transactions this year  

The season of gift giving is upon us. The UK plans to spend a total of £27.6 billion on Christmas gifts in 2023, up 37% from £20.1 billion in 2022.

Unwrapping the data, that's just over one quarter (27%) of the total amount spent on property so far this year. Close to £104 billion has been spent on property transactions this year to date.

45.8 million adults in the UK (86%) plan to buy Christmas gifts in 2023, a decrease from 89% of adults in 2022.

Gen Z is planning to fork out the most, with an average spend of £828 each.

Source: Dataloft, UK HPI (data to September 2023) based on the average transaction values, Finder

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Who will be the Christmas number 1?  

LadBaby has been the UK Christmas number 1 single for the past five years, with hits: 'Food Aid’, 'Sausage Rolls for Everyone’, 'Don’t Stop Me Eatin', 'I Love Sausage Rolls' and 'We Built This City’.

The last time someone else held the top spot was Ed Sheeran in 2017 with ‘Perfect’. Back then the average house price was £225,330. As of September 2023, it is £291,385, 29% higher.

LadBaby has had more Christmas number ones than any other artist, surpassing even the Beatles. Will there be a new contender this year?

Source: Dataloft, ONS, UK HPI Sep 23 v Dec 2017

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The estate agent wish list, written by home movers!  

One timeless tradition that adds a sparkle to the holiday spirit is the creation of Christmas wish lists. Every year, many people write a list, hoping to receive the gifts of their dreams.

At the top of home movers wish lists for their agent are trust, likeability and reputation.

Possessing strong market knowledge also contributes to being the chosen agent.

The concept of making wish lists during the Christmas season can be traced back to folklore and various customs.

Source: Dataloft, Property Academy Home Moving Trends Survey 2023

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You're sure to feel at home with these festive street names!  

The weather may be cold but there is plenty of heat in Christmas-related street names! Topping the list is North Pole Road in Maidstone with average prices of £607,500.

Snow Hill, Turkey Street and Gingerbread Lane have all exceeded the current national average house price of £291,385 and Hoel Bethlehem shows you can still find festive named roads at great prices!

According to Moveable, the most 'Christmassy' residential street in the UK is Byron Road in New Milton – famous for its light displays, they have raised over £85,000 for charity over the years.

Source: Dataloft, Land Registry (12 months to October 2023), Moveable

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62% live within three miles of the perfect Boxing Day walk  

The Christmas idyll is a snow-covered traditional village green with a beautiful church in the background and a red post box. Many Christmas cards feature this scene and some of us are lucky enough to live in places just like that!

There are over 5,000 villages in England and Wales and 69% have a historic listed church or chapel. Of those, 86% (3,321) also have some open green space within the village. Finally, 87% (2,878) of those contain a post box.

Fortunately, research by Dataloft shows that almost 1 in 5 people live within a mile of a picturesque village and 62% live within three miles of one. A great idea for a Boxing Day walk!

Source: Dataloft, Office for National Statistics, Census 2021, Ordnance Survey (England and Wales)

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Have A Merry Christmas And A Happy 2024!

We hope you enjoyed our fun Christmas property market facts! If you are thinking of moving home in 2024, or wish to discuss anything in this article, please do get in touch with Quealy & Co. We are your expert estate agent in Sittingbourne, selling and letting homes in Sittingbourne, Sheerness, Minster, Faversham, Canterbury, Rainham, Gillingham, Chatham, Rochester and Maidstone.

Call us 01795 429836 or email hello@quealy.co.uk to chat with a member of our friendly and experienced team about anything to do with moving home. You can also use our instant online valuation tool if you just want a ballpark figure of your home's value at this stage: Click here