As the year is coming to a close, Zoopla has analysed buyer behaviour and property trends over the past year – with house sales soaring to the highest level in four years.
Which months saw the most housing market interest and activity?
When it came to browsing Zoopla.co.uk, January was the most popular month for visitors to the Zoopla website, followed by March and February.
This aligns with the ‘Boxing Day Bounce’ on the 26th of December and the new year which traditionally drives an increase in property searches as people start looking for a new home at the beginning of the year.
2024 also saw an increase in the popularity of floorplans on Zoopla listings, with 80 per cent of buyers heading to the floorplan of a property before the photos.
May was the most popular month to list a home for sale on Zoopla, with summer the most popular time of year for house viewings and moves, while according to HMRC, August was the busiest month of the year for completions with 104,740 property transactions completed in the UK with a value of £40,000 or more.
How long did it take to sell a property?
The average time to sell in 2024 was 33 days, down from 34 days in 2023, with three-bed semi-detached properties the most popular property type.
Falkirk takes the crown as the fastest-moving property market in the UK, with a time to sell of just 15 days, followed by Glasgow City (16 days) and West Lothian (17 days). All of the top five fastest-moving markets are located in Scotland, where properties are listed with a valuation and survey upfront, driving speedier agreements on sales.
Liverpool was the fastest-moving market in England and Wales with a time to sell of 19 days, followed by Manchester (23 days) and the London borough of Waltham Forest (25 days).
What were buyers looking for?
Zoopla has revealed the top property-related keywords people were searching for this year. This gives an indication of what property attributes were most desired this year.
- Freehold
- Garage
- Annexe
- Cottage
- Double Garage
- Rural
- Pool
- Acre
- Conservatory
- Ensuite
What were the most and least expensive areas to buy a property in 2024?
Zoopla revealed the most and least expensive local authorities to buy a property in 2024.
Most expensive areas
- Kensington & Chelsea
- City of Westminster
- Camden
- City of London
- Richmond Upon Thames
- Hammersmith
- Elmbridge
- South Bucks
- Wandsworth
- Islington
Least expensive areas
- Inverclyde
- East Ayrshire
- West Dunbartonshire
- Hartlepool
- Hull
- North Ayrshire
- Burnley
- Sunderland
- Blackpool
What can we expect in 2025?
According to Zoopla, experts predict the current momentum in sales is expected to carry through to next year with an estimation of 1.15 million sales in in 2025 compared to 1.1million in 2024. It is expected that this will be driven by improvements in affordability and growth in incomes, which will encourage more home moves.
First-time buyers will remain the largest buyer group supporting housing chains and unlocking moves for existing homeowners. When it comes to house price growth,
Zoopla predicts a 2.5 per cent increase in 2025.
Further reading
Purchases – Oakwood Property Solicitors
WHAT TO DO NEXT
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