What home buyers want this year

Like the last of our Toblerone, Christmas is long gone and our festive wishlists have been replaced by New Year goals and ambitions as we look ahead to 2024 and all its possibilities. If selling your home is on your to-do list, we hope you’ll find this helpful.

With insight from Laura & Ali, our sales specialists – and Dataloft‘s November Poll data – we delve deeper into what buyers want, and how sellers can build that bridge. One of the biggest takeaways according to the data? Buyers are looking for properties that are ready to move into without the hassle of refurbishments.

Statistical data on what UK home buyers are looking for.

Hassle-free homes – yes please

This Christmas, a striking 61% of respondents in a recent Dataloft Poll of Subscribers (conducted in November 2023) said a firm “Ho-Ho-No!” to properties requiring refurbishments or extensive fixer-upper work. The desire for hassle-free homes is clear, as buyers aim to settle in comfortably in the festive countdown. The allure of walking into a home that requires no immediate work allows new homeowners to focus on what truly matters during this time of the year: family, relaxation, and holiday cheer.

Refurbished Homes – The Cost of Comfort

While the majority seek move-in-ready properties, there’s an intriguing market trend for homes in need of a little TLC. Over a quarter of respondents expressed interest in properties requiring refurbishments, primarily due to their more attractive pricing. On average, these homes are a cheery 8% cheaper than the typical property on the market. This price reduction can be a significant draw for buyers looking to invest in a property with potential, and who are willing to embark on the journey of making it their own.

However, those in search of newly-refurbished homes should be prepared to pay a premium. The data indicates a frosty 19% price increase, equating to nearly £70,000 more than the average property. This reflects the current market’s high valuation of convenience and modernisation. For many, the extra cost is justified by the immediate comfort and modern features these homes offer.

Location, Location – as always

As we dive deeper into buyer preferences, it’s not just the condition of the property that’s a priority; location remains a key factor. Buyers are looking for properties that are not only ready to move into but also situated in desirable areas. Proximity to good schools, transport links, and local amenities are still high on the 2024 goal list. Additionally, neighbourhoods that embrace the festive spirit with decorations and community events can also sway buyer decisions, adding to the charm and appeal of the area. Fortunately in the North East, we’re spoiled for choice!

Energy Efficiency – a gift that keeps giving

With the heightened awareness of energy costs and environmental impact, energy-efficient homes are increasingly desirable. Buyers are looking for properties with good insulation, efficient heating systems, and maybe even sustainable technologies like solar panels. These features not only reduce the carbon footprint but also promise significant savings on energy bills – a particularly attractive prospect in the current economic climate.

2024 house goals

In summary, UK home buyers this year are looking for:

  • Move-in ready homes: Minimal work required, allowing a running start to the new year
  • Affordability vs premium: A choice between more affordable fixer-uppers and pricier, newly-refurbished homes
  • Desirable locations: Good schools, transport links, and a festive community spirit
  • Energy efficiency: Homes that are both environmentally friendly and cost-effective

New year, new home

Whether you’re dreaming of a cosy, ready-to-move-in home or seeking a property with potential to refurbish, our team at Northwood is here to guide you through your property journey. Contact us today to start your journey towards a happy new home!

Aberdeen: 01224 218450 | Inverurie: 01467 530591
Aberdeen: aberdeen@northwooduk.com | Inverurie: aberdeenshire@northwooduk.com
207-211 Rosemount Place, Aberdeen, AB25 2XS | 23 West High Street, Inverurie, AB51 3SA