We saw a surge in house buying demand in 2024, as interest and mortgage rates fell from their previous highs and 2025 also looks set to be a busy year. But with it also likely to still be a buyer’s market, you’ll need your property to stand out for it to be the one they choose. Understanding what buyers are looking for this year will be key.
Realistic pricing
The days of soaring house prices are over for now, tempered by high mortgage rates impacting affordability and demand. House prices are still predicted to continue to grow but at a more measured pace than in the past.
Average house prices increased 3% in England to £306,000 in the 12 months to November 2024, according to provisional estimates from the ONS House Price Index. Although further growth of around 4% is expected this year according to Rightmove, there will still be differences between asking prices and final selling prices. Realistic pricing will increase your chances of a sale at the price you are hoping for.
Energy-efficient properties
Energy efficiency will continue to be a key differentiator of properties that buyers want. Energy efficiency measures benefit the environment and the wallet and can range from simple, inexpensive changes to more costly, longer-term investments such as heat pumps or solar panels.
This will be particularly true for landlords wanting to expand their portfolios. The government is shortly expected to unveil further details of its plans for landlords to upgrade properties to at least an Energy Performance Certificate rating of C by 2030. In December 2024, it also published a consultation on proposed changes to the EPC rating system to bring in a range of new metrics.
Landlords will be working on improved standards as early as they can, both to attract tenants and to comply with the new requirements in good time.
The ability to move quickly
Buyers will want to move fast, especially in the first quarter of this year when they might be trying to avoid increased costs from the reduction in stamp duty thresholds that take effect from the beginning of April. Only 8% of homes in London will fall under the new £300,000 threshold so competition will be tight.
According to Rightmove figures in December, the number of typical first-time buyer homes with two bedrooms or fewer in London coming to market is up by 20%, the highest rise of any region. If you need to secure a fast sale, ensure you are ready to move fast and that you have staged your property to appeal to your market.
Ready to move properties
Although more properties will come to market, buyers will still ultimately be in control. The still limited supply, as well as the strained finances of buyers, could mean that low maintenance and ready-to-move properties are more attractive to 2025 buyers. Completing quick fixes on your property and even measures such as a quick lick of paint could improve its appeal.
Proctors is an independent network of individual estate agent businesses with branches in Beckenham, Bromley, Park Langley, Petts Wood, Shirley and West Wickham. We’ve been buying, selling and letting in these areas since 1946. Get in touch to find out how we can help you with your property requirements.