The number of first-time buyers opting for renovation projects has soared as UK house prices continue to climb. According to the UK House Price Index, the average property price in August 2025 was £272,995, up from £220,163 five years earlier.
Analysis from The Property DriveBuy reveals that an estimated 40,919 fixer-upper properties are listed on England's market, with 20,522 already Sold Subject to Contract. This puts demand at 50.2%, considerably higher than the overall buyer demand of 37.1%. However, fixer-uppers make up just 5.4% of England's market, with the South East offering the largest selection, followed by London, the South West and the East of England.
Jess and Rick Sowerby, a couple who bought a semi-detached fixer-upper in Rochdale after 30 viewings, found renovation projects were about £90,000 cheaper than move-in-ready homes. Their biggest cost was an extension at £35,000, followed by rewiring at £6,000 and new doors and windows at £2,500. By undertaking much of the work themselves, they saved around £15,000.
Renovation costs vary widely, from inexpensive decorating to full-scale structural works. Checkatrade notes that restoring original period features can enhance a home's value by up to 30%, while extensions might add 5-8%, loft conversions up to 20%, and solar panel installation around 14%. However, buyers should factor in an extra 15-20% for surprise costs, as estate agent Chris Husson-Martin recounted tales of unforeseen expenses such as discovering wells beneath floorboards.
Some governments offer financial support for refurbishing empty properties. In Wales, the Houses into Homes scheme provides interest-free loans of up to £25,000. Ireland's Vacant Property Refurbishment Grant offers up to €50,000. Some local authorities in England also provide empty home grants, though amounts and eligibility vary.
