Closing the chapter on 2024
Just before closing the chapter on 2024, we have a few more insights to share with our readers – discover how Black Friday shaped shopper trends, why Estate Agents remain optimistic about 2025, and how evolving buyer priorities are reshaping the property market. And finally, from all of us at Lightstone Property, thank you for trusting us to simplify the complex and deliver data-driven clarity – here’s to a joyful festive season and a successful 2025!
Black Friday drives traffic to malls
Lightstone's data shows a 10% increase in Black Friday week vehicle stops compared to 2023, with 25.7 million stops across 1 850 monitored malls. Large malls saw the biggest growth, led by Gauteng's Mall of Africa. However, dwell times dropped, with Cape Town's V&A Waterfront seeing the biggest decline. Lower-income groups increased visits by 14%, but shorter stays point to changing shopper behaviour.
Read More2024 was another tough year for Estate Agents
Lightstone’s annual Estate Agent survey reveals that only a third of Estate Agents hit their 2024 sales targets, with economic challenges persisting. However, 86% are confident about reaching targets in 2025, driven by younger buyers, political stability, and interest rate cuts. Shifts in buyer priorities – like lifestyle and amenities – and a drop in emigration are reshaping the market.
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Festive greetings from your partners in property
Happy Holidays, from our family to yours! We hope you’re as excited to close doors as you are to open your home to more joy and laughter this festive season. Thank you for trusting Lightstone Property to support you and your clients in 2024. We look forward to opening more doors for you in 2025!
