The holiday season is upon us, and as we wrap presents and hang up decorations, there's more to Christmas than meets the eye—especially when it comes to property. From move-in-ready homes to the surprising financial wisdom of the Three Wise Men, here are some festive facts that might just light up your holiday spirit.
Home for the Hassle-Free Holidays
According to a recent #Dataloft Poll of Subscribers in November 2023, Rightmove found that 61% of respondents are saying "Ho-Ho-No!" to home refurbishments as they prefer a hassle-free move-in experience in the countdown to Christmas.
Interestingly, homes in need of refurbishment are sought after and are, on average, 8% cheaper than the typical property on the market. On the flip side, those opting for a newly-refurbished home are paying a frosty premium of 19%, nearly £70,000 more than the average property.
The Wise Men’s Advice
The Three Wise Men famously followed a star bearing gifts of gold, frankincense, and myrrh to the newborn king. However, from a financial standpoint, gifting a home might have been a smarter move.
Recent data from #Dataloft indicates that the average home price is currently £291,385—a 65% increase in value compared to a decade ago. This outpaces the 42% rise in the value of gold during the same period. While a price moderation is forecasted for 2024, cumulative growth of 5.8% is predicted between 2025 and 2027.
Renting Through the Ages of the Christmas Tree
The Christmas tree has become a symbol of warmth and tradition. Interestingly, the average Christmas tree takes 15 years to grow before it's ready for sale, while rents have lit up by almost 40% in the same time frame.
According to #Dataloft Rental Market Analytics, the average monthly rent is now £1,417, significantly higher than the £1,018 in 2008. The Christmas tree tradition itself is believed to have originated in 16th century Germany, where evergreen trees were decorated to symbolize the paradise tree of the Garden of Eden.
'Tis the season of gift-giving, and the UK is gearing up for a substantial expenditure. In 2023, the UK plans to spend a whopping £27.6 billion on Christmas gifts, marking a 37% increase from £20.1 billion in 2022.
To put this in perspective, this accounts for just over one quarter (27%) of the total amount spent on property transactions throughout the year. With close to £104 billion spent on property transactions this year, the festive gift budget is nothing to scoff at. Interestingly, 86% of UK adults plan to buy Christmas gifts in 2023, a slight decrease from 89% in 2022. Gen Z takes the lead in festive spending, with an average planned spend of £828 per individual.
Wishing you a joyous holiday season and a Happy New Year! Please see below for our Christmas opening hours.
Friday 22nd December – Closed at 5 pm
Saturday 23rd December - Closed at 1 pm
27th, 28th, 29th & 30th - Open 10 am - 4 pm
Reopen on 2nd January as normal.