Data from the home moving comparison website reallymoving reveals a 74% increase in conveyancing registrations for the first two weeks in January compared to the same period last year.
Combined registrations for conveyancing, survey and removals quotes between 1-15 January increased by 58% between 1-15 January, the company added, indicating that home moving activity is starting earlier than usual.
Conveyancing registrations are a key indicator of serious intent to move, reallymoving explained, suggesting sellers are proactively progressing plans that were paused or delayed towards the end of last year.
“Rather than signalling a broad resurgence in market confidence, the figures indicate that pent-up demand from the autumn is now feeding through,” reallymoving founder and CEO Rob Houghton said.
“This goes well beyond the casual browsing of property portals – these are committed movers taking purposeful steps to progress a transaction.
“Conveyancing registrations in particular show that buyers and sellers are lining up professional services now they have more certainty, rather than waiting until spring.
“For many movers it isn’t about timing the market perfectly, it’s about life circumstances – and needs-based moves to accommodate a new job or a growing family can only be put off for so long.”
First-time buyers are particularly proactive, according to the analysis, accounting for 59% of all conveyancing registrations on reallymoving in early January. The availability of cheaper mortgage deals and the chance of securing discounts from “fatigued sellers” are contributing to the surge, reallymoving said
Upsizers accounted for 18% of the movers identified in the analysis. Downsizer activity, however, “remains strikingly low”, with just 4% of the movers in the market.
“The data suggests downsizers are delaying moves until they feel confident they can achieve good value for their existing home,” Houghton explained. “Particularly as many will be relying on the lump sum generated by the sale to help fund retirement. For them it’s a once-in-a-lifetime equity event and the timing is key.”
