Homebuying reforms could unlock 260,000 extra instructions

More than 260,000 owner-occupied homes could come onto the market within a year if greater certainty was introduced into the homebuying process, potentially creating hundreds of thousands of additional instructions for estate agents, according to new research from Jackson-Stops.

The estate agency’s Housing Mobility Report suggests uncertainty over transaction times is preventing many homeowners from moving. It estimates that more than 700,000 owner-occupied homes could be unlocked over the next three years if confidence in the sales process improves.

The findings follow the government’s roadmap for reforming the homebuying process, which proposes measures to reduce delays, improve upfront property information and cut average transaction times by around four weeks.

Government figures show the average home purchase currently takes around 120 days from offer acceptance to completion, while around one in three transactions falls through, costing the wider economy an estimated £1.5bn each year.

Jackson-Stops argues that greater certainty over completion times would encourage more homeowners to list their properties, increasing housing supply and market activity.

The report also identifies stamp duty as a significant barrier to mobility. More than a quarter (28%) of owner-occupiers who had delayed moving said the tax had discouraged them from doing so, highlighting the impact of upfront moving costs.

The research comes as 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.

Nick Leeming, chairman of Jackson-Stops, commented: “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. Measures that improve upfront information sharing, strengthen professional standards and provide greater certainty earlier in the process should help buyers and sellers move with more confidence.

“The key now will be implementation, ensuring the reforms are phased carefully, clearly understood by consumers and workable for the agents, conveyancers, lenders and other professionals who will need to deliver them in practice.

“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.”

Table 1. Owner-occupied homes unlocked by reducing uncertainty over moving timelines

*Source: Jackson-Stops Housing Mobility Report

Note: Figures represent maximum market potential and have been rounded 

Stamp duty as a barrier 

The research also makes clear that process uncertainty is not the sole factor shaping moving decisions. Among owner-occupiers whose moving plans had been delayed, postponed or abandoned, the most commonly cited barriers were economic uncertainty (42%), mortgage rates (29%) and stamp duty costs (28%). This makes stamp duty the third most commonly cited barrier among affected owner-occupiers, underlining its potential impact on housing mobility. Removing stamp duty costs could bring more than 300,000 owner-occupied homes to the market across England within less than a year.  The report estimates that figure could rise to more than 750,000 owner-occupied homes over three years, underlining the potential impact upfront moving costs can have on housing mobility.

Commenting on the findings, Leeming said: “Stamp duty is clearly part of the wider mobility challenge. While it is not the only factor shaping moving decisions, our data shows it remains a meaningful barrier for some would-be movers. Any serious discussion about improving housing mobility should consider both the transaction process itself and the upfront costs people face when deciding whether to move.”

The stamp duty finding comes as property taxation is attracting renewed political attention. Andy Burnham is widely reported as the front-runner in the Labour leadership contest, and recent reporting has linked a possible Burnham premiership with property tax reform, including ideas around replacing or reforming stamp duty and council tax. No formal policy has been confirmed, but Jackson-Stops data suggests any future move that reduces upfront costs for movers would be watched closely by the market and may be welcomed by some buyers and sellers.

Millennials and upsizers drive activity 

Jackson-Stops’ Housing Mobility Report points to continued intent and momentum among owner-occupiers, with 8% in England currently planning to move or already in the process. This sits alongside wider HMRC transaction data indicating that households are continuing to move, with UK-wide residential transactions reaching over 1.2 million in the 2024 to 2025 financial year, up from around 1 million in 2023 to 2024.

The research suggests this activity is being supported by a mix of both practical life-stage and lifestyle-led decisions. Among owner-occupiers who had moved, were considering moving, or had considered moving in the last five years, the leading motivations were moving to a larger home (24%) and relocating to a different area for lifestyle reasons (22%).Millennials were the most active established owner-occupier generation, with 12% currently planning to move or already in the process of moving, compared with 8% of owner-occupiers overall.

Additional findings 

Late-stage transaction risks also appear to have a strong effect on confidence. Among owner-occupiers whose moving plans had been delayed, postponed or abandoned in the last five years, more than eight in ten who cited ‘gazundering’ – when a buyer lowers their offer before exchange – said they would be likely to move within three years if this barrier was no longer an issue. Among those who cited ‘gazumping’ – when a seller accepts a higher offer from another buyer after already accepting an offer – around six in ten said the same.

Jackson-Stops’ Housing Mobility Report also found that uncertainty over how long the home-moving process would take has delayed, postponed or caused nearly one million owner-occupier households in England to abandon moving plans over the past five years.

Leeming added: “There will always be financial and personal reasons why people decide whether or not to move. But this research shows that there is a group of would-be movers who may be encouraged to act if the process feels clearer, more predictable and easier to navigate.

“Improving certainty will not solve every housing challenge, and affordability, mortgage rates and wider economic conditions will continue to shape decisions. But the home-moving process is one practical area where improvement can support confidence.

“A healthier housing market is about more than building new homes, essential though that is.  It is also about helping existing homes circulate more freely, so that more people can make the move that is right for them.”