Barclays says average deposits for home movers have fallen significantly year-on-year, despite house price growth. 

At the same time, solo homeownership has become increasingly common despite ongoing affordability pressures, as buyers balance independence, financial security and long-term stability.

Barclays mortgage data shows that the average purchase price for home movers (non-first-time buyers) increased 1% year-on-year in June.

However the average deposit value fell now less than -24.8%. 

As a result, more movers are turning to larger mortgages to bridge the gap, with the proportion borrowing at more than 75% LTV rising from 18.2 to 22.1 per cent over the past year.

Over a third of second-steppers (34%) say they feel stuck in their current property because it is too expensive to move. 

Many recent first-time buyers are already planning cautiously, with 41% saying they will try to keep their next purchase close in value to their current home to reduce upfront costs.

However, this may be easier said than done – Barclays mortgage data shows that the average house price for home movers is 59.5% higher than for first-time buyers, with the gap widening 1.2% year-on-year in June. 

Additional support also continues to be crucial for this segment, with a fifth of second-steppers (22%) saying they will need help from family for their next purchase.

These affordability pressures are also shaping how far people are willing, or able, to move. 

Londoners are most likely to say it is too expensive to move at 37%, whereas those in Wales are least likely (21%). 

Yet second-steppers remain reluctant to compromise on location, with two thirds saying they would not move more than 10 miles away to find a suitably priced home.

Solo buyers seek independence despite affordability challenges

While many existing homeowners feel stuck on their current rung of the housing ladder, a growing number of buyers remain determined to take their first step onto it. 

More people report purchasing homes on their own than in previous generations, reflecting changing lifestyles and a strong desire for financial independence.

Just 15% of those who bought their first home before 1980 say they did so by themselves, while 83% bought with a spouse or partner. 

However, for purchases since 2020, this drops to 54% of first-time buying with a spouse or partner, reflecting broader cultural shifts. 

Barclays mortgage data also shows that over a third of completions (36.9%) were for solo buyers in June.

The most common reason cited by those planning to buy with another person was wanting to live with the person or people they are buying with (46%), followed by feeling more financially secure (24%) and wanting to share responsibility (22%).

However, independence does not always mean going it alone financially. 

Four in 10 homeowners say they received a lump sum financial gift from parents to help buy their first home, rising to 53% for the most recent first-time buyers (2020 onwards).