UK homebuyers are increasingly prioritising properties in good condition over those requiring renovation or extension potential, according to new research from Market Financial Solutions (MFS).
In its latest Homebuyer Wishlist survey, MFS found that 79% of prospective buyers rated the quality and finish of a property as ‘important’ or ‘very important’ – making it the top consideration for 2025, up from fourth place in the same survey last year.
Meanwhile, just 56% of respondents now consider the potential for extensions or conversions as a key factor, placing it at the bottom of the list.
The findings suggest a shift in buyer preferences towards convenience and certainty, as higher borrowing costs continue to impact affordability and long-term planning.
Paresh Raja, CEO of Market Financial Solutions, said: “Our ‘Homebuyer Wishlist’ survey monitors how the wants and needs of UK property buyers evolves over time. The standout finding this year is that there is an increased desire for properties in a good condition.
“With borrowing costs still above the levels seen from 2008 to 2022, buyers are perhaps seeking stability and predictability, favouring homes that are ready to move into rather than those needing renovation or refurbishment.
“Any ‘doer upper’ brings uncertainty, particularly when it comes to the cost of materials and labour, as well as the potential for delays, which can present challenges from a financing perspective.
“But as ever, we have to appreciate that all homebuyers are different. Some will relish a project, others want the turnkey option. As lenders must double down on optionality when offering flexible, fast finance that allows buyers to act with confidence when the right property becomes available.”
The survey, based on 2,000 UK adults including 916 active or prospective buyers, underscores the importance of lender flexibility in meeting a broad range of buyer needs in a changing market environment.
