"Despite standing at the starting line when it comes to the homeownership journey, the nation’s first-time buyers are showing a remarkably mature and long-term perspective ahead of this year’s Autumn Budget"
- Adam Day - eXp UK
Almost half of first-time buyers (47%) have paused their homebuying plans until after the Autumn Budget, according to research from eXp UK. The survey suggests uncertainty around potential tax and housing policy changes is weighing heavily on buyer confidence.
However, the hold-up is not about short-term tax incentives. Most aspiring homeowners are looking for long-term improvements to housing affordability rather than quick political wins such as a Stamp Duty cut.
When asked about the biggest barrier to buying their first home:
41% cited the high deposit and savings requirement caused by rising house prices, the most significant obstacle.
21% pointed to a lack of government schemes for first-time buyers.
19% noted a shortage of suitable homes within their budget.
12% highlighted longer-term mortgage affordability.
Only 6% cited Stamp Duty or other upfront costs.
This focus on genuine affordability was mirrored in what buyers would like to see in the Autumn Budget. Nearly half (48%) want new or expanded government schemes, such as Help to Buy or the Mortgage Guarantee Scheme, compared with just 26% who favoured the elimination or reduction of Stamp Duty.
Asked for a single message to the Government, 35% emphasised increasing housing supply and affordability. Another 23% requested more mortgage support to help with monthly repayments, while a further 23% urged avoiding new housing taxes. Only 20% said Stamp Duty reform should be the main priority.
Adam Day, head of eXp UK and Europe, comments, “Despite standing at the starting line when it comes to the homeownership journey, the nation’s first-time buyers are showing a remarkably mature and long-term perspective ahead of this year’s Autumn Budget."
"They aren’t asking for short-term giveaways or political point-scoring in the form of a Stamp Duty cut, which would only fuel demand and push house prices even higher.
"Instead, they want to see meaningful reform that tackles the real issues such as the chronic shortage of affordable housing, the high cost of deposits, and the need for practical mortgage support that makes buying sustainably affordable over the long term.
"It’s a clear message to the Government that first-time buyers aren’t looking for gimmicks; they’re looking for genuine solutions.”
