Research by Regency Living found that 72% of current homebuyers in the UK plan to upsize, but they face difficulties due to a lack of suitable family homes.
The survey revealed that the main motivator for 54% of them is children, while 20% are expanding due to more children on the way.
18% are motivated by the imminent arrival of their first child, and 16% are looking for more space because they plan to have children soon.
The desire for more outdoor space motivated 12% of respondents.
However, the process has been challenging, with 59% struggling to find a suitable property, up from 52% in Q4 2024.
Insufficient market stock was the leading issue for 39%, followed by high house prices at 30%, and a lack of equity in existing homes at 14%.
Tim Simmons, sales and marketing director at Regency Living, said: “So much attention is paid to first-time buyers that upsizers, or second steppers, are often ignored despite making up a large portion of the current homebuyer cohort.
“And while first-time buyers certainly face significant challenges in today’s property market, upsizers are also confronted with major obstacles, not least a lack of suitable stock.”
Simmons pointed to previous research which showed that 93% of people over 50 in family homes want to stay rather than downsize, which contributes to fewer available upsizer homes.
Simmons added: “So, in order to increase the opportunity for people to take a second step up the ladder, more older homeowners need to downsize.
“And downsizing can bring all sorts of valuable benefits.
“Downsizing enables homeowners to release a good portion of the equity currently tied up in their property, freeing up money that can be spent enjoying a great retirement or helping out younger generations of the family.”
He said: “Downsizing also enables older people who live alone or in a couple to live in a more manageable home.
“Smaller homes are also cheaper to run, which can make a huge difference to household finances when the cost of living is as high as it currently is.
“And finally, downsizing provides you with the opportunity to make a new home in a community of like-minded people of a similar age, providing the support and security that can be so valuable in later life.”
