08 Jan Reflecting on 2024: Key lessons for buyers and sellers

As we enter a new year, it’s the perfect time to look back over the past 12 months and reflect on some lessons in the property market. For buyers and sellers alike, one thing’s for sure, 2024 brought about a few dynamic changes that will definitely guide future decisions. 

For buyers

Act with confidence but do your research

2024 reiterated the importance of being decisive but also diligent. Interest rates fluctuated and market trends changed almost weekly but buyers who stayed informed were ultimately able to make better choices. This is why doing research into local areas, average prices and potential future developments is so important if you want to find the best deals.

Prepare financially before you start

Lending criteria might be getting stricter and economic uncertainty means we don’t know what’s around the corner but this is why pre-approval for mortgages is so important. As a buyer, you need to work closely with a lender to understand your budget. In doing so, you’ll avoid disappointment and also be more likely to secure properties quickly when the right opportunity comes about. 

Stay flexible 

One of the biggest shifts we saw in 2024 was buyers seeking value for money by being open to areas and property types that they hadn’t initially considered. This meant many people were able to discover their perfect property and even stretch budgets. 

For sellers 

Pricing matters more than ever

Competitive pricing remained one of the priorities across property sales of all types in 2024. In fact, those sellers who embraced realistic valuations were rewarded with quicker transactions, even in what was sometimes a slow market. 

First impressions matter

Homes that looked nice, online and in person, ultimately stood out which reinforces the importance of investing in professional photography and even home staging. In fact, sellers who did saw higher levels of interest and were more likely to secure the best deal for their property. 

Timing can make or break a sale

Seasonal trends are always a driving force but those sellers who listed their properties strategically, avoiding quieter periods and making the most of busy market windows achieved better results. 

While we don’t know what 2025 has in store for the property industry, we do know that those buyers and sellers who take these lessons forward can make better decisions and be on track for success. What’s more, at Kaytons, our dedicated team is here to guide you every step of the way so why not get in touch today?