Homeownership barriers in the UK 2023

According to a survey conducted among 2,000 adults in the United Kingdom (UK), in December 2023, the majority of respondents found the affordability of mortgage repayments the biggest barrier to a property purchase. Between 2021 and 2023, the share of respondents who chose mortgage affordability as the main challenge rose 39 percent to 68 percent. This was due to the dramatic increase in house prices since the beginning of the coronavirus pandemic and the mortgage rates hike in 2022.

Share of respondents who consider certain issues as barriers to homeownership in the United Kingdom (UK) from 2016 to 2023

Characteristic	Affordability of monthly mortgage repayments	Raising a deposit	Stamp Duty costs	Legal, valuation and other "official" costs	Access to a large enough mortgage/ access to a mortgage at all	Complexity of the property buying process	Finding the right property	Concern about future falls in property prices	Lack of job security
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-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-
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-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-

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Release date

February 2024

More information

Region

United Kingdom

Survey time period

2016 to 2023

Number of respondents

2,000 adults

Special properties

as of December of each year

Supplementary notes

Respondents were asked the following question: "Which of the following do you think are most likely to stop someone from buying a residential property at the moment?". Multiple answers were possible.

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