Homeowners trading up have reclaimed control of the housing market, with upsizers accounting for more than 70% of simultaneous buyers and sellers so far this year – the highest share in five years.
Latest data from reallymoving shows that 70.3% of movers in Q1 2026 who are both buying and selling are purchasing a more expensive home than the one they are leaving behind.
The figure marks the strongest upsizer presence since May 2021 and a sharp reversal from the downsizer-led market seen when mortgage rates peaked in 2023.
The resurgence coincides with easing borrowing costs and a renewed reliance on mortgage finance. Mortgage-backed purchases climbed to 82.5% in January 2026 – the highest proportion in eight years – signalling improved affordability and confidence among borrowers.
IMPROVVED AFFORDABILITY
At the same time, inflation-adjusted house prices have fallen by 16% over the past four years, according to Nationwide, lowering the real-terms cost of moving up the ladder even as rates remain above pandemic lows.
Rob Houghton, co-founder and CEO of reallymoving, said: “The shift from downsizing in 2023 to upsizing in 2026 highlights how sensitive mover behaviour is to borrowing costs.
“When mortgage rates peaked, we saw downsizer activity surge, suggesting many homeowners were freeing up equity to help family members buy. Now that borrowing costs have eased, upsizers are firmly back in the driving seat.
“Real house prices have fallen significantly in recent years, so while mortgage rates remain higher than the ultra-low levels of the pandemic era, the overall affordability equation has improved.”
RATE SQUEEZE
And he adds: “Despite the cost-of-living crisis, the jump to a larger property has become achievable again for many homeowners. If mortgage rates continue to fall through 2026, the traditional ladder dynamic – homeowners stepping up to larger properties – could reassert itself as the defining feature of the market.”
The data also shows that two-thirds of upsizers are securing more bedrooms, with 66% buying a property larger than the one they are selling – the highest level recorded since reallymoving began tracking bedroom data in 2021.
LOCALISED MOVES
The median move distance has fallen to just nine miles, the shortest since before the pandemic. Among upsizers, 41% are staying within the same postcode district – the highest share in almost a decade – suggesting more households can now afford extra space without relocating to cheaper regions.
Houghton adds: “We’re seeing a clear shift towards people upsizing within their existing communities and staying close to schools, work and support networks rather than relocating further afield. The trend for longer distance moves we saw during the pandemic years has now fully reversed.”
