Demand for project properties soars versus general market
New research from The Property DriveBuy reveals that demand for fixer-upper properties is easily eclipsing overall market demand as homebuyers demonstrate a strong appetite for renovation projects amidst ongoing affordability restrictions due to stubbornly higher mortgage rates and slow but steady house price growth.
Across England, there are currently an estimated 601,525 homes listed for sale on the market. Of these, an estimated 223,280 have already been Sold Subject to Contract (SSTC) which puts buyer demand at 37.1%*. On a regional level, housing market demand reaches as high as 41.7% in the North West, followed by Yorkshire & Humber at 41.3%.
However, The Property DriveBuy’s analysis of fixer-upper listings* reveals that demand for properties which need a significant amount of renovation work is significantly higher than general market demand.
There are currently an estimated 40,919 fixer-upper properties listed on England’s market, of which 20,522 are already SSTC. This means fixer-upper demand sits at 50.2%. In the North West, it reaches a national high of 52.9%, followed by the South East (52%), West Midlands (51.8%), East of England (51.3%), and Yorkshire & Humber (51.1%).
Despite their popularity, fixer-upper properties represent a limited portion of the nation’s housing stock, which means hopeful buyers might find it difficult to get their hands on one. These properties make up just 5.4% of England’s market. Representation is at its strongest in Yorkshire & Humber where fixer-uppers make up 6.8% of available listing, followed by the South West (6.7%), and the North East (6%).
In terms of overall fixer-upper numbers, buyers actively searching for a good opportunity might be best focussing on the South East, home to more than 4,000 such listings which is equivalent to 19.8% of the national total. This is followed by London (15.8%), the South West (15.4%), and the East of England (11.3%).
Steve Foreman, Founder and CEO of The Property DriveBuy, commented:
“Fixer-uppers are becoming an increasingly attractive route onto the ladder, especially for first-time buyers looking for a more affordable entry point in today’s market. With inflation remaining stubbornly above the Bank of England’s target, the drop in mortgage rates that many had hoped for simply hasn’t materialised. As a result, monthly repayments remain a key concern, and buyers are increasingly turning to lower-priced project properties as a way to reduce upfront costs and future-proof their investment.
Fixer-uppers offer the potential to buy below market value and add equity over time, whether through DIY updates or more substantial renovation work. It’s a chance not only to save at the point of purchase but to build long-term value.
But what’s particularly interesting is that many buyers don’t start their search looking for a fixer-upper, they often stumble upon one by accident. It’s usually the unexpected listings that spark the most interest, where buyers recognise the potential and are inspired by the idea of transforming a space into something uniquely theirs.
At The Property DriveBuy, we believe rigid search filters and tick-box criteria can actually limit what buyers discover. Our real-time, location-based alerts are designed to surface hidden opportunities, like the perfect fixer-upper just around the corner. Because sometimes, you don’t really know what you’re looking for until it finds you.”
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