Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.

Process Reforms Could Release 260,000 Homes to UK Market

More than 260,000 owner-occupied homes could be released to the UK property market within a year if reforms to the homebuying process reduce uncertainty over transaction times, according to research from Jackson-Stops. The estate agency’s Housing Mobility Report estimates that over 700,000 owner-occupied homes could be released over three years if confidence in the sales process improves.

The findings come as the government has outlined plans to reform the homebuying process, with proposed measures aimed at reducing delays and cutting average transaction times by around four weeks. Government data shows that the average home purchase currently takes about 120 days from offer acceptance to completion. Around one in three transactions falls through, costing the wider economy an estimated £1.5 billion annually.

Barriers to Market Mobility

The Jackson-Stops research identifies stamp duty as the third most commonly cited barrier among owner-occupiers who had delayed moving plans, with 28% citing the tax as a deterrent. Economic uncertainty was cited by 42% of respondents, while mortgage rates were mentioned by 29%. The report estimates that removing stamp duty costs could bring more than 300,000 owner-occupied homes to market within a year, rising to over 750,000 within three years.

Market Trends and Buyer Behaviour

UK residential transactions recovered during the 2024/25 financial year, with more than 1.21 million completions, up from around one million the previous year. The research indicates that 8% of owner-occupiers in England are currently planning to move or are already in the process. Among owner-occupiers who had moved or considered moving in the last five years, 24% cited moving to a larger home as their primary motivation, while 22% identified relocating for lifestyle reasons. Millennials were the most active established owner-occupier generation, with 12% currently planning to move or already in the process.

Implementation and Industry Impact

Jackson-Stops notes that the success of the proposed reforms will depend on careful implementation and understanding by consumers, as well as workability for agents, conveyancers, lenders, and other professionals involved in transactions. The report suggests that improving upfront information sharing and strengthening professional standards could provide greater certainty earlier in the process, potentially encouraging more homeowners to list their properties and increasing overall market activity.