British homebuyers are less willing to adjust their expectations, finances and lifestyles to purchase property compared to buyers in other major English-speaking markets, according to new research from property data firm Cotality.
The study analysed purchasing behaviour across the UK, US, Canada, Australia and New Zealand, revealing notable differences in buyer attitudes driven primarily by affordability concerns.
Across all five countries surveyed, 69% of respondents said they would cut lifestyle spending to afford a home, 65% would consider taking a smaller mortgage, and 59% would consider buying a smaller property. However, British buyers showed significantly lower willingness to make such compromises, with only 59% prepared to cut lifestyle spending, 53% willing to take a smaller mortgage, and just 42% open to buying a smaller home.
Market conditions driving buyer behaviour
Cotality attributed the reduced flexibility among UK buyers to several factors, including Britain’s comparatively smaller housing stock, prolonged economic pressures affecting housing security, and the larger deposits many buyers already need to raise.
Jim Driver, Managing Director at Cotality UK, said: “The important message from this research is that buyers haven’t stepped away from the market, but there is less room for compromise than we see in other countries.”
Certainty valued over speed
The research also found that buyers across all five markets increasingly prioritise certainty throughout the transaction process. In Britain, 66% of buyers said they would choose certainty over speed when purchasing a home, seeking clear costs, transparency around mortgage decisions and confidence that transactions will complete successfully.
Driver added: “The UK housing market asks consumers to make one of the biggest financial decisions of their lives without consistently providing the information they need at the point they need it. Whether through digital property information, improved data sharing or clearer visibility of a home’s condition and energy performance, we believe better information creates better outcomes.”
The findings align with the Government’s Homebuying and Selling Reform roadmap, which aims to improve transparency and provide buyers, sellers and lenders with better information earlier in the transaction process. The research suggests such reforms could address growing buyer demands for certainty in an increasingly constrained market.
