First-time home buyers are increasingly steering clear of fixer-upper properties and instead opting for newly constructed homes that come ready to live in, complete with garden spaces. This shift in preference marks a significant change in the UK’s property landscape, especially for those making their first foray into homeownership.

The Scotland-based property portal TSPC has noted a “noticeable pivot” from renovation projects to new builds among first-time buyers. One major reason for this trend is the soaring costs associated with renovation. Building materials have become more expensive, and skilled tradespeople are not only hard to find but also charge premium rates. For first-time buyers, who typically lack experience in managing such complex projects, these factors make renovations a less appealing option.

The Appeal of New Builds

According to Lisa Mannion, an associate solicitor at Thorntons, the current trend isn’t just about buying a house—it’s about investing in a lifestyle. New builds, often featuring more space and modern amenities, are now preferred over smaller flats or demanding renovation projects. This preference suggests that first-time buyers are looking for homes that can accommodate growth and adaptation over time.

Looking for More Room

The demand isn’t just for any new build—specifically, larger properties with two or three bedrooms are becoming increasingly popular. This trend indicates a desire among new homeowners for more space, perhaps driven by the modern needs of working from home or starting a family.

Boost from Gifted Deposits

Another interesting trend in the property market is the rise of gifted deposits. More first-time buyers are receiving financial help from family, enabling them to afford these larger, more expensive new builds. This boost is helping a new generation of homeowners step onto the property ladder in a way that suits their lifestyle and aspirations better than the traditional starter home might have in the past.