UK homebuyers less willing to compromise than overseas buyers, study reveals
The Consumer Sentiment Report from Cotality found 66% of UK buyers would choose certainty over speed when buying a home.
UK homebuyers were less willing than buyers in other countries to change their spending, borrowing or property plans, according to research from Cotality.
Its Consumer Sentiment Report compared buying behaviour in the UK, US, Canada, Australia and New Zealand.
Across the five countries, 69% of respondents said they would cut lifestyle spending, 65% would consider a smaller mortgage and 59% would consider buying a smaller home.
In the UK, the figures were 59%, 53% and 42% respectively.
Jim Driver, managing director at Cotality UK, said: “The important message from this research is that buyers haven’t stepped away from the market, but there is less room for compromise than we see in other countries.”
The research also found 66% of UK buyers would choose certainty over speed when buying a home.
Buyers wanted clear costs, transparent mortgage decisions and confidence that their purchase would complete.
Driver added: “The UK housing market asks consumers to make one of the biggest financial decisions of their lives without consistently providing the information they need at the point they need it.
“Whether through digital property information, improved data sharing or clearer visibility of a home’s condition and energy performance, we believe better information creates better outcomes.
“The more certainty we can provide buyers and sellers, the more efficiently the market can operate.”
Related
Homebuyer demand down 1.6% in Q3 – eXp
64% of FTBs rely on side hustles to save for home deposits – Mojo Mortgages
Average rents fall in nine UK regions in September – Propertymark
Eight in 10 property professionals confident homebuying reforms will deliver positive change – CSS
Mortgage approvals drop as buyers await Budget – Yopa
Leeds Building Society urges brokers not to rule out applicants with lower salaries
Brokers cite affordability checks as biggest barrier to expat lending – Suffolk BS
Moving home in England costs £17,413 in 2026, reallymoving finds
Barclays widens mortgage access for limited company directors
Market Harborough Building Society launches Rent to Own initiative
Nearly half of homeowners carry out property research in secret – Zoopla
