Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
Gen Z Buyers Focus on Affordability Over Location
Barclays’ latest Property Insights report reveals that younger property buyers in the UK are increasingly prioritising price over location when searching for a home. According to the research, one in five Gen Z purchasers are prepared to move more than 25 miles from their preferred area to find affordable housing.
A quarter of Gen Z buyers said they could not afford to purchase in their desired location, with price identified as the most important factor for this demographic. Location and neighbourhood considerations were less significant compared to affordability.
Deposit Requirements and Regional Variations
The report found that average deposit requirements have declined by 16.4% year-on-year to £57,209, down from £68,435 in May 2025. Despite this reduction, affordability remains a significant challenge. More than a third of renters cited saving for a deposit as their biggest obstacle, while 36% pointed to high property prices.
There were notable regional differences in deposit values. Greater London saw the steepest decline at 27.2%, bringing the average deposit down to £136,057 from £186,960. East Anglia experienced a 23.5% decrease to £55,063, and the South East fell 22.8% to £70,454. Northern Ireland was the only region to record an increase, rising 14.9% to £41,008.
Transaction Delays and Market Activity
Nearly nine in ten buyers and sellers reported experiencing delays during the home-moving process, with 29% saying a purchase had fallen through entirely. Conveyancing issues were the most common cause of delays, followed by estate agency-related problems and a shortage of suitable properties. Barclays’ mortgage data shows the average period between final mortgage offer and completion increased by 21.7% compared with the previous year.
Despite these challenges, 16% of Gen Z renters are actively searching for a property to buy. Remortgages accounted for 40.6% of mortgage completions, up from 30.7% a year earlier.
The findings suggest that estate agents may need to adapt their approach as buyer demand becomes increasingly driven by affordability rather than location preferences, particularly among younger purchasers.
Source: PropertyWire