Solo homeownership remains a popular choice, with an average of 50% of prospective homebuyers purchasing alone over the past four years, according to Mortgage Advice Bureau’s (MAB) data.
The research found a slight decline of 4% in solo purchases, from 51% in 2021 to 47% in 2024.
Joint purchases, on the other hand, increased by 4% during the same period, rising from 49% in 2021 to 53% in 2024.
The data showed a peak in solo buying in 2022 at 53%, and a peak in joint buying in 2024, also at 53%.
In 2024, solo purchases increased by 11% from January (40%) to December (51%), while joint purchases decreased from 60% in January to 49% in December.
Age-wise, the split between solo and joint purchases remained even – older buyers were more likely to purchase alone, with 64% of those aged 45-plus buying solo.
Joint purchases peaked in the 25 to 36 age bracket at 52%.
Since 2022, solo purchases among under-25s decreased by 13% to 45% in 2024.
The 36-plus age bracket saw a peak in solo purchases in 2023, attributed to factors such as changing relationship dynamics, wealth accumulation, and career advancement.
In 2024, 7% of prospective homebuyers were planning to purchase with a friend, 9% with a family member, and 18% with a partner.
Scotland had the highest percentage of solo buyers over the last four years at 57%, followed by Northern Ireland (56%), Wales (53%), and England (49%).
England had the highest percentage of joint buyers at 51%, and Scotland the lowest at 43%.
Northern Ireland experienced the biggest increase in solo buyers in 2024, up 17% from four years ago to 60%.
London, Scotland and Wales experienced a peak in solo purchases in 2022, with 70%, 60% and 65% respectively.
Rachel Geddes, strategic lender relationship director at MAB, said: “It’s empowering to see so many solo homebuyers entering the market, and with buyer confidence on the rise, there has never been a better time to get on the property ladder.
“While joint purchases allow customers to maximise their borrowing potential, there are so many options out there that enable those buying solo to do the same.
“The steady demand for solo homeownership is testament to the increase in buyer confidence, from factors such as improved affordability, slowed house price growth, and stabilising mortgage rates.”
Geddes added: “Whatever your buying circumstances, there are a range of options available to boost your affordability, from Shared Ownership, First Homes to the Lifetime ISA, joint borrower/sole proprietor, and many more.
“Whether you’re going it alone or pairing up with a partner, friend, or family member, speaking with a mortgage adviser in both instances is invaluable, helping you to decide what the most suitable options are for your needs.
“They will help you to get mortgage ready, taking into full consideration your future plans and priorities, as well as your current affordability.”
