52% believe new builds are 'too expensive': Skipton BS

Research commissioned by Skipton among 1,000 aspiring first-time buyers, as part of its “SKIPto” campaign, shows that 44% are now actively considering new builds, compared to just 30% looking at older properties. Buyers are drawn to modern features (53%), energy efficiency (37%), and the benefits of chain-free transactions (31%). More than half (53%) value the ease of moving into a ready-made home, while 31% want to avoid the stress of being caught in a chain. Outdoor space remains important for 22%, and 19% cite the quality of construction as a key factor in their decision.

Despite this interest, affordability remains a key concern, with 52% of respondents believing new builds in their area are unaffordable and 60% worrying about limited supply. In addition, 35% of first-time buyers say saving for a deposit is their biggest barrier.

Jonathan Evans, new build lead at Skipton Building Society, said: “Our aim is simple… to be transparent, reliable and provide mortgage options that make sense. We know that affordability and deposit barriers are real concerns for many first-time buyers, especially in the New Build market. That’s why we’ve developed solutions like our Track Record Mortgage and 95% LTV products, to help renters and aspiring homeowners take that crucial first step.

"By listening to brokers and understanding the challenges their clients face, we’re building a proposition that’s not just competitive, but genuinely supportive. Our lending criteria is designed with brokers in mind, clear, flexible and built to help them place more cases with confidence.”