A new consumer survey of over 34,000 home-movers by Rightmove has revealed that 68% of renters see fixer-uppers as a more affordable route to property ownership, with an average 12% discount on these homes.  

The biggest motivator for renters wanting to purchase a fixer-upper is the opportunity to buy at a lower price (73%) and for homeowners it is to create the perfect home (73%). 

The average asking price of a fixer-upper home is £327,224, which is 12% (£44,634) lower than the current national average asking price of £371,858 for all types of home. 

Rental price growth has increased by 61% over the past ten years, intensifying the financial pressures on renters and likely driving many to consider more affordable fixer-upper properties as a pathway to ownership.

For renters a £44,634 discount compared to average property prices could be a significant advantage. This cost difference could be especially impactful in areas where property prices are high, like the South East and London, making it easier for renters to transition to ownership.  

Improving energy efficiency to reduce energy bills (57%) is an important motivator to renters and homeowners who are interested in buying a fixer-upper to make future cost savings from living in a sustainable home.