Demand for homes needing renovation is significantly outstripping the general property market. High mortgage rates and steady house prices are pushing buyers towards more affordable “fixer-upper” properties, offering a chance to add value and secure a foothold on the property ladder. The Property DriveBuy app helps buyers discover these hidden opportunities.
The Rise of the Renovation Project: Why Fixer-Uppers Are Winning the Market
New research from Property DriveBuy shows that properties needing a bit of work are far more popular than general homes on the market. Buyers are actively looking for renovation projects as a way to deal with high mortgage costs and the slow but steady increase in house prices.
Across England, there are about 601,525 homes for sale. More than 223,280 of these are already sold, meaning buyer demand for all properties is currently at 37. 1%. The North West of England is seeing the highest demand, with 41. 7% of homes sold, followed closely by Yorkshire & the Humber at 41. 3%.
However, when you look specifically at homes that need significant renovation, the demand is even higher. Property DriveBuy’s analysis found that fixer-upper properties are attracting a 50. 2% demand rate. This means more than half of the fixer-upper homes listed are already under offer.
The North West leads the way again for fixer-upper demand, with 52. 9% of these properties sold. Other popular regions include the South East at 52%, the West Midlands at 51. 8%, the East of England at 51. 3%, and Yorkshire & the Humber at 51. 1%.
Despite their popularity, fixer-upper homes are quite rare. They make up only 5. 4% of all homes listed for sale in England. Yorkshire & the Humber has the highest proportion of fixer-uppers, making up 6. 8% of its available properties, with the South West at 6. 7% and the North East at 6%.
If you’re looking for the largest number of fixer-upper properties, the South East has over 4,000 listings, which is nearly 20% of the national total. London follows with 15. 8%, the South West with 15. 4%, and the East of England with 11. 3%.
Steve Foreman, Founder and CEO of The Property DriveBuy, explained:
“Fixer-uppers are becoming a much more appealing way to get onto the property ladder, especially for first-time buyers who are looking for a more affordable starting point in today’s market. Inflation is still higher than the Bank of England’s target, and the drop in mortgage rates many hoped for hasn’t happened. Because of this, monthly payments are a big worry, and buyers are increasingly turning to cheaper project properties to lower initial costs and protect their investment for the future.
Homes needing work offer the chance to buy for less than the market price and increase the property’s value over time. This can be done through doing some work yourself or by hiring professionals for bigger renovations. It’s an opportunity not just to save money when you buy, but to build long-term value.
What’s particularly interesting is that many buyers don’t start their search specifically looking for a fixer-upper. They often find one by chance. It’s usually the unexpected listings that get the most attention, where buyers see the potential and are inspired by the idea of turning a space into something that is truly their own.
At Property DriveBuy, we believe that strict search filters and ‘tick-box’ requirements can actually stop buyers from discovering things. Our real-time, location-based alerts are designed to show hidden opportunities, like the perfect fixer-upper just around the corner. Because sometimes, you don’t really know what you’re looking for until it finds you.”
Discover your next renovation project with Property DriveBuy. Download the app today and start exploring properties in your area.
Search for “Property DriveBuy” on your app store.