More than 260,000 owner-occupied homes could enter the 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, proposing measures to reduce delays and cut average transaction times by approximately four weeks.
Government data shows the average home purchase currently takes around 120 days from offer acceptance to completion. Around one in three transactions falls through, costing the wider economy an estimated £1.5 billion annually.
Stamp duty impact on mobility
The 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, whilst mortgage rates were mentioned by 29%.
Jackson-Stops 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. The findings come as buyer behaviour shows increased selectivity in the current market.
Nick Leeming, chairman of Jackson-Stops, said: “Our Housing Mobility Report highlights an industry-wide challenge facing the English housing market, with would-be movers hesitating before they even begin. The government’s proposed reforms are a positive and necessary step.”
The stamp duty findings coincide with renewed political attention on property taxation. Andy Burnham, widely reported as the front-runner in the Labour leadership contest, has been linked with potential property tax reform, though no formal policy has been confirmed.
Transaction volumes recover
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 Jackson-Stops research indicates 8% of owner-occupiers in England are currently planning to move or 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, whilst 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.
Leeming commented: “The market is active, and people continue to buy and sell homes every day. But our research indicates there is a sizeable group sitting behind that activity. People who could move, and in many cases would like to move, but who need greater confidence in the process in order to do so.”
Implementation challenges ahead
The success of the proposed reforms will depend on implementation, according to Jackson-Stops. The measures will need to be phased carefully and understood by consumers whilst remaining workable for agents, conveyancers, lenders and other professionals involved in transactions.
The report’s findings suggest 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.