Newbuilds falling out of favour with first-time buyers
Only 8% of first-time buyers in the UK are opting for newbuild homes, in a steady decline since 2022 when the new properties were favoured by 10% of new homeowners. According to data from CompareMyMove, only Scotland has seen an increase in popularity for brand new homes within the last year, with a 2.43% rise […]
Older homeowners support digital homebuying, OPDA research finds
An OPDA survey of 5,000 homebuyers and sellers has found strong support for digitising the homebuying process amongst older movers, with a large majority of buyers aged 65 and over agreeing it’s a good idea. The Censuswide survey of people who had bought or sold a property within the last five years found that 70% […]
Market ‘remains resilient’ as Nationwide’s May index shows 0.5% increase
Market activity is ‘holding up well’ following stamp duty changes, according to Nationwide’s chief economist, with industry leaders welcoming continued signs of resilience. Commenting on the release of the building society’s monthly house price index, Robert Gardner said that despite wider economic uncertainties in the global economy, ‘underlying conditions for potential home buyers in the […]
Property industry unfazed by steep decline in HMRC monthly transaction data
Property industry experts continue to be optimistic about the housing market, despite the latest UK monthly property transaction data showing a steep decline. HMRC’s non-seasonally adjusted residential transactions decreased by 66% in April 2025 relative to March 2025 – the highest month-on-month decrease since records began for non-seasonally adjusted figures. The provisional seasonally adjusted estimate […]
Home ownership aspiration sinks to a decade-long low, with buying process ‘a well-known joke’
The homebuying process, stamp duty rates and the leasehold system have all been cited as ‘major housing concerns’, according to new research by the HomeOwners Alliance. The organisation, which has been tracking UK housing concerns for the past 10 years, says issues that were significant in 2015 continue to plague the market in 2025. While […]
First-time buyers play ‘critical role’ in housing market, but half need to source extra income to finance purchase
The average UK first-time buyer is 34 with a salary of £35,900 and deposit of £24,500, according to new research from the Mortgage Advice Bureau (MAB). First-time buyers made up 67% of all borrowers who purchased a property in the last year, which MAB says ‘underscores the critical role’ they play in the housing market. […]
Attractive deals tempt buyers back to market, with ‘business booming’ in Blackburn
Zoopla’s latest House Price Index shows the busiest May for home sales since 2021, which the property website attributes to buyers tempted back to the market by attractive mortgage deals and an increase of up to 20% in borrowing. The analysis reveals a 13% increase in the number of homes on the market since this […]
First-time buyers inspire hope in property professionals, but government promises are met with sceptism
A webinar poll conducted by Countrywide Surveying Services (CSS) has found that property professionals have confidence in the first-time buyer market, but are sceptical of government commitments to housebuilding and reform. CSS polled around 250 webinar participants – including brokers, lenders, developers and surveyors – to gauge industry views on the state of the property […]
Half of potential buyers shelved moving plans in favour of renovations, citing high costs
New research from Santander shows more than half (57%) of homeowners who considered moving in the last year have paused their plans – with high costs the biggest barrier to moving. Instead, nearly a third (31%) said they would renovate their current home, with average budgets tripling in the last five years as a result. […]
First-time buyer offers ‘dropped by 55% since stamp duty changes’
Market data from estate agency software provider Alto reveals a sharp downturn in first-time buyer demand since the government’s stamp duty changes on 1st April. The data, which is based on activity from 6,000 UK estate agents, shows a 70% increase in first-time buyer registrations in early 2024, but by the first quarter of 2025 […]
Developers could be penalised for slow build rates
A policy paper published by the government over the weekend has outlined how it could get tough on slow housing developers in an effort to ‘get on and build’ the 1.5m homes promised in this Parliament; including penalising those responsible for slow build rates and unfinished sites. ‘Planning Reform Working Paper: Speeding Up Build Out’ […]
Sales market continues to ‘weather the storm’ as UK House Price Index shows 6.4% hike
Average UK house prices increased by 6.4%, to £271,000 in the 12 months to March 2025, according to provisional estimates in the ONS UK House Price Index – up from 5.5% in the 12 months to February. Across the UK, average prices increased to £296,000 (up 6.7%) in England, £208,000 (3.6%) in Wales, £186,000 (4.6%) […]
Highest buyer demand since 2022, with 437,000 sales agreed this year
Figures from property data specialists TwentyEA, gathered by real-time tracking of over 99% of property listings, reveal that buyer demand is 7% higher than this time last year. Demand is highest in the North West, which saw year-on-year growth of 12% across the region, followed by Wales with 10%. Increases were seen across all price […]
BSA and leasehold drive referrals to national fee-share scheme
Transactions involving the Building Safety Act, leasehold and enfranchisement matters and where transactions present a conflict of interest are driving a 45% increase in referrals to fee-sharing scheme LawShare. Launched by JMW in 2011, LawShare mirrors similar schemes like Connect2Law which was pioneered by Manchester’s Pannone Solicitors, offering firms a split of the fees for […]
Consultant model ‘a fundamental part of the UK legal fabric’
Alternative legal platform providers, otherwise known as consultant-model law firms, continue to demonstrate ‘importance that lawyers are placing on autonomy, work-life balance, and the ability to build a practice supported by strong infrastructure’ say the authors of a report into the size and structure of the market. The sector hit over 4,000 practitioners last year, […]
First-time buyers are late 20s with savings – most older renters think they’ll never buy a home
The majority of first-time buyers are aged between 25 and 34 and use their own savings to cover the deposit, according to data in the government’s latest English Housing Survey (EHS). In 2023-24, 60% of first-time buyers were aged between 25 and 34, with 21% between 35 and 44, 10% between 45 and 64, 7% […]
April lull in buyer demand is temporary and will bounce back, says Rightmove
A 4% drop in buyer demand reported in Rightmove’s April house price index is a ‘temporary lull’ that will bounce back in May, the property portal reports. Despite the fall, year-to-date buyer demand is 3% ahead of the same period last year, sales agreed are 4% up for the same period, and Rightmove says its […]
Material information guidance withdrawal – what next for conveyancers?
The withdrawal of the material information guidance published by National Trading Standards Estate and Letting Agency Team (NTSELAT) appears to have taken much of the industry by surprise. Law Society of England and Wales vice president Mark Evans the withdrawal has left ‘consumers, conveyancers and estate agents in the dark’ and Sheila Kumar, chief executive […]
Record-breaking self-employed mortgage searches in ‘month of sharp contrasts’
A slight overall dip in enquiries was tempered by record-breaking searches for self-employed mortgages in April, according to the latest mortgage activity data from by Twenty7tec. The financial services platform reported ‘a small nudge downwards’ in purchase mortgage search activity, with a drop of 3.5% in April compared to the previous month. However, CEO James […]
Government focus on housebuilding is behind a 36% increase in registrations – NHBC
The government’s focus on housing has provided a boost to developers according to the National House Building Council, which says new home registrations are up 36% on this time last year. The figures from the NHBC reveal that 29,356 new homes were registered to be built in Q1 2025, up 36% on Q1 2024 and 17% […]