By using this website, you agree to our use of cookies to enhance your experience.


Homebuyers postpone purchase plans after ‘disappointing’ Autumn Statement

Around half of homebuyers will continue to postpone plans to purchase a property after the Autumn Statement failed to provide sufficient housing market support, research suggests.

A survey of more than 1,000 homebuyers by Yopa has found 55% of buyers continue to postpone purchase plans following the Autumn Statement, while 45% had put their plans on hold as a consequence of rising mortgage rates and market uncertainty. 

The research found that 58% of home buyers were disappointed by the lack of a Stamp Duty incentive in Chancellor Jeremy Hunt’s fiscal update last week, while 47% said it would have given them greater confidence to buy.


When asked about their position in the market and their current plans, 30% said they would continue to postpone their plans to purchase until 2024. 

A quarter stated that they would continue to postpone their plans indefinitely, while 23% will continue looking following the Autumn Statement, but they will do so with caution. 

However, 22% also stated that they would proceed with confidence now that the chance of a Stamp Duty saving has passed.

Verona Frankish, chief executive of Yopa, said: “The property market has stood firm all things considered, but there’s no denying that higher mortgage rates have led to a reduction in buyer activity and this has caused the rate of house price growth to grind to a halt. 

“We had been hoping that the government would help stimulate the market by way of a stamp duty shake up. Had they done so, it’s clear that it would have helped entice hesitant home buyers back to the fold. 

“Unfortunately, this wasn’t the case and, as a result, over half of home buyers plan to keep their ambitions to purchase on ice.”


Please login to comment

MovePal MovePal MovePal
sign up