10 things we’ve learned about the property market this year
From viral homes to record-breaking sales, 2024 has been a fascinating year for the UK property market.
With Zoopla reporting 1.1 million sale completions this year — 10 per cent higher than in 2023 — the platform has unveiled key insights into buyer behaviour and housing trends over the past 12 months. Here are 10 standout takeaways shaping the market:
Luxury properties piqued interest
This year, the priciest property sold on Zoopla was a Beverly Hills mansion listed for £67.6 million. Closer to home, a Grosvenor Crescent property in London topped the UK market at £65 million, boasting six ensuite bedrooms, a chef’s kitchen, and a private spa.
January is the busiest month for property search
Thanks to the 'Boxing Daybounce', January was the busiest month for Zoopla’s website traffic. This post-Christmas surge often inspires people to start their property search, with resolutions for a fresh start driving an uptick in activity.
The local pub influences home-buying decisions
The local pub plays a surprisingly strong role in home-buying, with nearly a fifth of homeowners admitting they’ve made an offer on a property while in a pub. More than a third wouldn’t even consider a home more than a mile from one, with a 13-minute walk deemed ideal. Pubs reflect the community, influencing decisions and providing a space to weigh up offers over a pint, added Dan Copley, a consumer expert at Zoopla.
Summer is prime moving season
While January dominated browsing activity, May saw the highest number of homes listed for sale, and August recorded the most completions, with 104,740 transactions valued at £40,000 or more. Summer remains the top season for moving house.
Floorplans are a must for buyers
Floorplans were the first stop for 80 per cent of buyers browsing listings on Zoopla this year, even before they viewed photos. This highlights the importance of visualising a home’s layout during buying.
Scotland leads the speed race
Scotland took the lead for the fastest-moving property market in 2024, with Falkirk recording an average time to sell of just 15 days. Glasgow City and West Lothian followed closely. Scotland’s upfront valuation and survey system speeds up sales, helping the region stand out.
‘Freehold’ remains the top search term
For the second consecutive year, ‘freehold’ was the most searched keyword on Zoopla. Practicality and charm are trending, with terms like ‘cottage’ and ‘double garage’ entering the top five searches, reflecting buyer preferences for character and space.
Renting costs vary dramatically depending on borough
Kensington and Chelsea remained the UK’s most expensive borough in the rental market, with an average rent of £3,518 per month — almost triple the UK average of £1,270. In contrast, Hartlepool in County Durham was the most affordable location, with rents averaging just £564 per month.
A Disney-themed home went viral
The most viewed property of 2024 was a seemingly ordinary three-bed semi-detached house in Rhyl, Wales, which captured hearts with its incredible Disney-themed interior. Viewed 219,000 times on Zoopla, it’s a clear sign unique decor still holds immense appeal for home buyers.
Growing house prices set for 2025
Zoopla predicts an increase in completions to 1.5 million next year, driven by improving affordability and rising incomes. First-time buyers will remain a key driver, while house prices are expected to grow by 2.5 per cent.
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