Saffron for Intermediaries has reported rising interest in custom-build homes from younger generations, with 64% of 18 to 24-year-olds considering this option compared to only 21% of those aged over 55.
The building society surveyed more than 2,000 UK consumers, finding that half had thought about custom-building their own home.
The survey revealed that 35% of individuals aged 18 to 24 were aware of the Right to Build register, dropping to 17% of those over 55.
The Right to Build register helps local authorities track individuals interested in self-building. Under the Self- and Custom-Build Act 2015, local authorities must secure enough land for those looking to build their own homes.
Only 39% of respondents correctly identified what custom-build is, indicating a knowledge gap among potential buyers.
Among those considering custom-build, 34% did not know about the Right to Build Register, with only 28% having signed up.
Tony Hall, head of business development at Saffron for Intermediaries, said: “Custom-build housing offers a significant opportunity to help meet the Government’s housebuilding objectives and provide prospective homeowners with tailored, affordable options.
“However, our study shows that awareness and understanding of custom-build remains low, with many consumers unsure about the process and benefits.
“That being said, it is really encouraging to see growing interest from younger generations, who are exploring alternative routes to homeownership in today’s challenging market.
Hall added: “For lenders and brokers to harness this potential demand, raising awareness is key.
“We must bridge the knowledge gap through targeted information and guidance, helping consumers understand how custom-build can meet their needs and fit their lifestyle.
“For brokers and lenders, this presents a valuable opportunity to expand their business by supporting customers in achieving their homeowning dreams through custom-build projects.”
Peter Johns, chief executive at the National Custom & Self Build Association, said: “NaCSBA, has campaigned tirelessly for the custom-build sector, which offers consumers complete control over the design of the home they choose to buy, while supporting the UK’s housebuilding agenda.
“Saffron’s survey has shown that appetite for custom-build is certainly there and it is particularly encouraging to see that it appeals to a younger demographic.
“We are delighted to have Saffron as a Gold Partner member of NaCSBA and look forward to continuing to work with them and the rest of our members to help make custom and self build a mainstream choice in the UK housing market.”
