Rising costs are stalling housing market activity, with nearly three-quarters of homeowners saying it is now too expensive to move.
New research from the HomeOwners Alliance found 74% of homeowners cite financial pressures – including mortgage rates, deposits and stamp duty – as the main barrier to moving.
The findings reinforce signs of a sluggish market, with affordability constraints continuing to weigh on mobility across all buyer groups.
Lower mortgage rates were identified as the biggest potential catalyst for activity, with 42% of homeowners saying this would encourage them to move. This rises to 50% among those with an existing mortgage.
HOMEBUYING REFORM
Reform of the buying and selling process was also highlighted, with 37% calling for improvements, while 36% said lower stamp duty would help unlock moves.
Supply issues are also playing a role, with 27% pointing to a lack of suitable homes across different life stages.
Older homeowners in particular are feeling the strain. Among those aged 55 and over, 32% said better availability of later-life housing, such as bungalows, would encourage them to move. This group is also more likely to call for earlier legally binding agreements in transactions, cited by 29%, compared with just 14% of under-35s.
Concerns around leasehold are also more pronounced among older homeowners, with 22% identifying it as a barrier to downsizing.
For first-time buyers, affordability remains the dominant challenge.
Lower deposit requirements (42%) and cheaper mortgage rates (39%) were the most commonly cited factors that would help them onto the ladder, while 19% pointed to targeted savings products such as Lifetime ISAs.
TOO SLOW AND STRESSFUL
Paula Higgins (main picture, inset), Chief Executive Officer at the HomeOwners Alliance, says: “The message from homeowners is clear: moving home in Britain can feel too expensive, too slow and too stressful.
“But even in a challenging market, it is still possible to move – and for many people, it’s about making the decision that’s right for you and your circumstances.
“At the same time, there’s no question the system needs to improve. Tackling affordability, addressing stamp duty and fixing the broken buying process will make it easier for everyone to move when the time is right.”
She adds that concerns around leasehold remain a key issue, particularly for older homeowners considering downsizing, and called for progress on reform to restore confidence in the sector.
The findings show the extent to which affordability pressures and structural issues continue to restrict movement across the housing market.
