Lockdown helped third of UK homebuyers get onto property ladder
As challenging as the last 12 months have been for all of us, for many different reasons, there have been some positive stories and developments that have emerged during this unprecedented time.
According to new research from Rightmove, a third of UK home buyers have been helped onto the property ladder due to the national lockdown, with 27% of recent home buyers stating that the restrictions actually enabled them to save for their new home.
46% of those asked stated that they were able to get a foot on the ladder, as government ‘stay at home’ measures meant they drastically reduced their spending across social activities.
A further 33% said that having to work from home has also been a contributing factor to their ability to buy, as money otherwise spent on their daily commute or fuel consumption could be saved instead.
The other findings from this report show that savings were also made from family costs (10%) and moving back with parents or family members to save on rent and share social bubbles (5%).
Whilst it would be safe to assume we’re all keen to return to some form of normality once again, it’s incredible that the property market has been able to safely continue and help buyers achieve their dream of homeownership in 2020 and 2021.
With further savings available due to the stamp duty holiday extension until the end of June, it’s expected that even more residential transactions will occur in the coming months.
To find out how you can get your foot on the property ladder, get in touch with us today.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
For more company news and insights from Pygott & Crone, click here
Latest news
Understanding rent reviews and increases
The Renters' Rights Act 2025 introduced a clear and structured framework for rent increases in England's private rented sector that every tenant should understand.
Mortgage rates and refinancing decisions
Mortgage rates continue to be one of the biggest considerations for homeowners, buyers and landlords planning their next move.
Price your home right: The foundation of success
Every detail in a property sale—from photography and listing descriptions to viewings and negotiations—operates within the framework created by the asking price.
First-time buyer essentials: What you need to know
First-time buyers accounted for approximately 36% of all mortgaged property purchases in the UK in 2025, making them the largest single group of buyers in the market.
