The Covid-19 lockdown measures have helped around a third of UK homebuyers get onto the ladder, according to new research by Yes Homebuyers.
Indeed, 27% of those who bought recently said the restrictions in response to the pandemic allowed them to save quicker, with 46% revealing that the drastic curtailment of social activity meant they could reduce their spending easier.
Meanwhile, a further 33% suggested that their savings were boosted thanks to working from home, which reduced commuting costs, while 10% were helped by a reduction in family costs. Inheritance following a bereavement and rent savings from moving back home with parents were cited as reasons by 6% and 5% respectively.
Matthew Cooper, founder and managing director of Yes Homebuyers, commented: “There’s no-one on the planet who wouldn’t like to erase the last year from history and lockdown has been hard for so many people for a whole variety of reasons.
“At the same time, there have been some great stories of resolve, survival and adaptation emerging across all areas of life and this is indicative of our nation and how we come together when times are tough.
“While we’re all chomping at the bit to get back to some form of normality, it’s also great to see that for a third of homebuyers lockdown has, at least, helped them to achieve their goals of homeownership.
“With little else to spend our money on and a further saving due to the stamp duty holiday, there’s never been a better time to get a foot on the ladder and hopefully, many more will continue to benefit.”