UK young homebuyers co‑own and relocate to tackle affordability crunch

Rising house prices have led many young Britons to purchase homes with friends or family. In Bristol, two 29‑year‑old friends bought a £244,000 mortgage by splitting a £35,000 deposit and setting up a tenants‑in‑common agreement, while brothers in Kent used a similar split‑deposit approach to buy a four‑bedroom house.

Barclays research shows that one in five buyers aged 18‑29 are prepared to move more than 25 miles and to accept less‑safe neighbourhoods to afford a property. Price is the top priority for this group, with average deposits falling 16.4% to £57,209. Mortgage rates have eased slightly, and the market sees fewer deposits in London and the South East. Delays in conveyancing and estate‑agent processes are rising, with 88% of surveyed parties reporting a postponed purchase.

These trends highlight a shift toward co‑ownership and greater flexibility among young UK purchasers as they navigate a tight housing market.