The latest analysis from Yopa found that more homebuyers are opting for fixer-uppers to manage the high costs of homeownership.
The research showed that 46% of fixer-upper homes have sold or are under offer, while only 37% of period properties and 27% of modern homes have found buyers.
Rightmove estimates suggested fixer-uppers are selling at an average 12% discount, making them appealing due to their lower initial cost amid high mortgage expenses.
In contrast, period properties cost up to 180% more, and new builds carry a 49% premium.
However, fixer-uppers remain hard to find, making up just 5% of homes for sale, compared to 10% for modern homes and 28% for period properties.
Steve Anderson, national franchise director at Yopa, said: “The market is certainly heading in the right direction and there’s an overarching air of optimism that 2025 will bring a more settled landscape, certainly with respect to mortgage affordability.
“However, as it stands, buyers continue to face far higher borrowing costs than they’ve become accustomed to in recent years and it’s clear that affordability remains a sizable obstacle when it comes to the pursuit of homeownership.”
Anderson added: “So it’s no surprise that fixer-upper homes are in high demand at present, as they allow a lower initial cost when climbing the ladder, with the ability to spread the cost of improving them over a period to suit each individual buyer’s timeframe and financial foundation.”
