More than 260,000 homes could flood the market within a year if the government succeeds in streamlining the homebuying process. New research by estate agency Jackson-Stops reveals that improved confidence would unleash this surge in housing mobility across England.
The agency's Housing Mobility Report estimates that owner-occupied homes entering the market over a three-year period could reach 700,000, contingent on a reliable sales process. This comes as the government outlines its plans to reform homebuying, proposing measures to reduce delays and shorten average transaction times by four weeks. The current average purchase takes approximately 120 days from an offer being accepted to completion, with about one in three transactions collapsing, incurring an estimated annual cost of £1.5 billion.
The research highlights Stamp Duty Land Tax as a major hurdle for prospective movers, cited as the third most common barrier by 28% of owner-occupiers who had postponed their moving plans. Economic uncertainty topped the list at 42%, followed by mortgage rates at 29%. Jackson-Stops calculates that removing stamp duty costs could bring over 300,000 owner-occupied homes to market within a year, increasing to more than 750,000 over three years.
Nick Leeming, Chairman of Jackson-Stops, comments on the report, stating, “Our Housing Mobility Report highlights an industry-wide challenge facing the English housing market. The government's proposed reforms are a positive and necessary step.” He adds that while the market remains active, many potential movers await greater confidence in the process.
The report notes UK residential transactions have seen a recovery, with over 1.21 million completions in the 2024/25 financial year, up from around one million the previous year, and 8% of owner-occupiers in England are currently planning a move or are already in the process.
Among those who have moved or considered moving in the last five years, 24% were primarily motivated by the desire for a larger home, while 22% cited lifestyle reasons. Millennials emerged as the most active established owner-occupier generation, with 12% either planning to move or actively engaged in the process.
The success of the government's proposed reforms will hinge on effective implementation, requiring careful phasing and clear communication, according to Jackson-Stops.