UK homebuyers are increasingly seeking ‘turnkey’ homes in good condition rather than renovation projects, as elevated borrowing costs reshape property-buying priorities, according to new research from Market Financial Solutions (MFS).
The London-based specialist lender commissioned an independent survey of 2,000 UK adults, of whom 916 have recently bought, are currently purchasing, or plan to buy property in the next 12 months. The findings, part of MFS’s annual ‘Homebuyer Wishlist’ report, highlight a marked shift in buyer preferences since July 2024.
In this year’s study, 79% of buyers cited property quality and finish as an “important” or “very important” consideration — making it the top priority, up from fourth place last year.
By contrast, the potential for extensions and conversions dropped to the bottom of the list, with just 56% ranking it as important, signalling a clear pivot away from ‘doer uppers’.
The findings suggest today’s buyers are prioritising convenience, certainty and cost control, as higher interest rates and inflationary pressures continue to affect financial decision-making.
“With borrowing costs still above pre-2022 levels, buyers are understandably leaning towards stability and predictability,” said Paresh Raja, CEO of MFS.
“Homes that are ready to move into remove many of the variables that come with renovation — from fluctuating labour and material costs to extended timelines, all of which can complicate financing.”
Raja added that while some buyers still enjoy the challenge of a project, lenders need to cater to both ends of the spectrum by offering flexible and fast finance solutions that match evolving preferences.
The shift towards ‘ready-to-go’ properties is likely to influence not just buyer behaviour but also the strategies of sellers and developers.
Sellers looking to maximise value in a slower market may benefit from investing in light refurbishments or interior upgrades before listing their homes. Meanwhile, developers and investors may see growing demand for new-builds or recently renovated stock that meets modern standards and buyer expectations.
The research also underscores the increasing importance of predictability in property transactions, especially for first-time buyers or those stretching to afford current mortgage rates.
With interest rates expected to remain elevated throughout 2025, the trend towards low-maintenance, high-quality homes may persist — particularly as lenders continue to tighten affordability criteria and buyers seek to minimise post-purchase costs.
Raja concluded: “Each year our survey tracks how buyer attitudes evolve. The standout shift in 2025 is the strong preference for properties that remove risk and allow for faster, smoother transactions.
In a challenging economic environment, buyers want to move quickly when the right home becomes available — and lenders must be prepared to support that agility.”
