Homebuyers across the UK are increasingly favouring move-in ready properties over those requiring renovation, as higher borrowing costs prompt a shift in buyer behaviour, new research from Market Financial Solutions has revealed.
The London-based specialist lender commissioned a nationally representative survey of 2,000 adults, including 916 who have recently bought, are currently buying, or intend to purchase a home in the coming year. The results show a marked change in preferences compared to the same survey carried out in July 2024.
According to the 2025 findings, 79% of buyers now view the quality and finish of a property as an important or very important factor — up from 2024, when it ranked just fourth on the list of priorities.
By contrast, the potential for extending or converting a property has fallen sharply in importance, with just 56% of respondents saying it mattered to them.
The data points to a wider trend among buyers seeking security and convenience in a higher interest rate environment. With borrowing still more expensive than during the low-rate era from 2008 to 2022, many purchasers appear unwilling to take on the uncertainty of a renovation project.
Paresh Raja, chief executive 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.”
The findings come as affordability constraints continue to weigh on activity in parts of the residential market. While mortgage approvals have gradually recovered from the lows seen after the mini-budget in 2022, interest rates remain elevated and lenders have tightened their criteria.
Buyers who might once have been willing to undertake works are now more likely to calculate the additional cost — and risk — involved in projects that require planning permission, structural work or contractor availability. Many are opting instead for properties that offer immediate usability and minimal disruption.
Raja added that while the appetite for renovation has cooled, lenders still have a role to play in supporting a wide range of buyers: “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.”
