Changing Buyer Expectations in the UK Housing Market

The traditional appeal of purchasing a property requiring extensive renovation, commonly known as a “doer-upper,” appears to be waning among UK homebuyers. Recent research indicates a clear shift in buyer preferences, with fewer willing to take on significant refurbishment projects unless the price accurately reflects the work needed. This trend has important implications for landlords, letting agents and property professionals navigating the current housing market.

Changing Buyer Expectations in the UK Housing Market

For many years, the doer-upper was a popular choice for buyers, especially first-time purchasers, who saw value in acquiring a property at a lower price and investing time and money to improve it. This approach was often viewed as a practical way to enter the housing market and build equity. However, contemporary buyers have grown up in an environment where homes are typically sold ready to move into, and their expectations have evolved accordingly.

A recent survey conducted in the second quarter of 2026 by property group LRG, involving over 700 buyers and sellers, revealed that only 6% of buyers actively seek properties requiring significant renovation. Meanwhile, a majority of 53% prefer to avoid substantial work altogether. The remaining 41% are open to renovation projects but only if the asking price fairly accounts for the extent of the required repairs and improvements. This data suggests that while the doer-upper still holds some appeal, the market has recalibrated the value placed on such properties.

First-Time Buyers: A More Cautious Approach

The most notable shift is among first-time buyers, who historically were the primary purchasers of doer-uppers. Now, this group is among the most cautious regarding property condition. Twenty percent of first-time buyers categorically rule out major renovation projects, compared to just 4% of buyers moving within family homes. Only 5% actively seek out properties needing work, and 43% remain open to such projects only if the price reflects the renovation costs.

This cautious stance is largely driven by a desire for certainty and immediate habitability. First-time buyers increasingly want homes they can occupy from the outset without unexpected expenses or delays. Research from Nationwide in May 2026 supports this, showing that two-thirds of recent first-time buyers purchased cheaper properties due to necessary repairs, with three-quarters undertaking more work than initially planned. This experience has likely contributed to a more risk-averse attitude toward doer-uppers.

The Rising Cost of Renovation and Its Impact on Value

Financial considerations are a significant factor in the changing market dynamics. Analysis by lender Octane Capital estimates that refurbishing a typical doer-upper now costs upwards of £85,000. Additionally, forecasts from the Building Cost Information Service predict a 14% increase in building costs over the next five years, with labour expenses being the primary driver.

As renovation costs rise, the discount offered by purchasing a property needing work becomes less advantageous. Buyers are increasingly recognising that a well-maintained home, even at a higher asking price, may represent better value than a cheaper property requiring extensive and costly refurbishment. This shift challenges sellers to price doer-uppers realistically to attract interest.

Seller Pricing Strategies and Market Realities

Feedback from buyers in the LRG survey highlights the importance of accurate pricing. Buyers warn sellers not to underestimate renovation costs and to factor in the increased prices of materials and labour. Sellers who price properties as if they are finished homes risk deterring potential buyers, as the true cost of repairs becomes apparent only after purchase.

Mark Manning, managing director of Manning Stainton and part of LRG, observes that buyers remain interested in homes needing work but are unwilling to pay twice—once at the asking price and again for renovations. He notes that doer-uppers now only sell when the price genuinely reflects the cost of necessary work. Sellers who accept this reality from the outset tend to achieve better results, while those who do not may see interest fade quickly, often within the critical first two weeks on the market.

Shifts Across Buyer Demographics and Investor Interest

The decline in enthusiasm for renovation projects is not limited to first-time buyers. Downsizers, who might previously have viewed doer-uppers as retirement projects, now largely prefer homes that are ready to move into immediately. Approximately 25% of downsizers want a home they can enjoy straight away, with only 3% actively seeking renovation opportunities.

Investors remain an exception to this trend, with around one-third still pursuing properties requiring refurbishment to add value. However, this represents a relatively small segment of the market. Overall, the preference across buyer groups is shifting towards convenience and certainty, with the cost burden of renovation increasingly expected to be reflected in the seller’s asking price rather than the buyer’s post-purchase investment.

What this means for landlords

Landlords should be aware that properties requiring significant refurbishment may take longer to sell unless priced appropriately to reflect the cost and effort involved. This is particularly relevant for those considering selling or letting homes that need work. Overpricing a doer-upper can lead to reduced interest and longer market times, which may affect rental income or capital returns.

Letting agents and property managers should advise landlords on realistic pricing strategies and consider the condition of properties when marketing them. Where refurbishment is necessary, landlords may need to weigh the benefits of completing work before letting against the potential for attracting tenants who prefer move-in ready homes. Understanding current buyer and tenant preferences will be key to making informed decisions in this evolving market.

What TLA members should consider

• Review and adjust pricing strategies for properties requiring renovation to ensure they reflect current market expectations and renovation costs.
• Advise landlords to consider completing essential repairs or improvements prior to marketing to enhance appeal and reduce void periods.
• Stay informed about rising building and labour costs to accurately estimate refurbishment budgets and avoid unexpected expenses.
• Communicate clearly with prospective buyers or tenants about the condition of the property and any planned or required works.
• Monitor buyer demographics and preferences, particularly the cautious approach of first-time buyers, to tailor marketing and sales approaches accordingly.
• Consider the implications of the Renters’ Rights Act and other compliance requirements when refurbishing or letting properties.

TLA Training Academy

The Landlord Association provides structured guidance, compliance education and practical support for landlords, letting agents and property professionals. Members can access training and resources designed to help them stay organised, informed and prepared.

Landlords can explore the Academy here: https://landlordassociation.org.uk/tla-academy/

Those looking to join and access member support can register here: https://landlordassociation.org.uk/get-started-with-the-landlord-association/

TLA update

The Landlord Association is continuing to expand its support, resources and partner network for landlords, tenants, agents and property professionals across the UK. Service providers interested in working with TLA can register their interest here: https://landlordassociation.org.uk/become-a-tla-service-partner/