New data from Open Property Group has revealed a growing number of homeowners and landlords are being driven to sell amid economic pressures and regulatory changes.
The professional property buying company receives around 300 enquiries each week, with recent insights offering a detailed picture of who is selling, and why. Managing director Jason Harris-Cohen noted a marked change in the condition of properties and the motivations of sellers over the past few years.
Key data points include:
Between 60% and 70% of sellers live in the property they are selling. The remaining 30% to 40% are landlords, many of whom are leaving the rental sector due to tax changes and tightening regulations.
Most sellers are aged between 45 and 65, with many seeking to downsize, retire, or respond to life events such as divorce or financial hardship.
Properties typically sell for £150,000 to £250,000, often reflecting homes in need of renovation or those located in lower-value areas.
Around 30% of sales involve properties that are either in poor condition or not fit for habitation, with many sellers unable to fund repairs or resolve tenant issues.
Homeownership spans eight to fifteen years on average, though landlords are more likely to sell sooner in response to rising costs and changing rules.
Between 50% and 65% of sellers still have a mortgage, heightening the urgency to sell in many cases.
The profile of sellers points to a broader trend: average incomes fall between £25,000 and £35,000, and the gender balance is fairly even, at 55% male and 45% female.
While the company has completed 170 sales in the past 12 months and more than 400 since 2022, the majority of those who initially expressed interest ultimately hold off. According to Open Property Group, 80% of prospective sellers change their minds, often because the market does not meet their price expectations or due to shifts in personal circumstances.
“We’re seeing a high percentage of sellers who are reacting to a combination of personal and market-driven challenges," explained Harris-Cohen. "The majority of enquiries are from individuals in financially stressful situations or landlords impacted by rising interest rates and changing legislation.”
