According to the latest Building Societies Association (BSA) Property Tracker survey, which surveyed around 2,104 adults, in January 2026, around 64% of prospective first-time buyers said raising a deposit was a major barrier to a property purchase.
This is up from 52% in the same period last year.
The report found that half of those surveyed said affording monthly mortgage repayments was a barrier to homeownership, in line with the 51% recorded in January 2025.
Approximately 45% of those surveyed added that accessing a large-enough mortgage was a hurdle to owning their own home, which is slightly up from 43% in the same period last year.
The BSA said that as the “main obstacles” are “tightly clustered” around mortgage affordability and availability, changes to products and policies could “unlock significant first-time buyer activity”.
It continued: “Building societies are already leading the way, offering flexible mortgage products tailored to individual circumstances, helping turn first-time buyer aspirations into homeownership. This momentum is expected to continue into 2026.”
Over-55s’ concerns about job security and stamp duty could reduce housing mobility
The BSA report also found that “pressures” on older age groups may “restrict movement” across the housing market more broadly.
Around a third of people aged 55 and over said worries about job security were an obstacle to buying a home. This is up from around a quarter last year.
Approximately 30% in this age group said stamp duty was a barrier, a rise from 24% last year.
The BSA said this would risk discouraging older homeowners from moving, “reducing the supply of homes coming to the market”.
Paul Broadhead, head of mortgage and housing policy at the BSA, said: “We are starting to see more encouraging signs for first-time buyers. The aspiration to own a home is clearly strong, with potential buyers sensibly waiting for the right moment. As lenders continue to innovate and affordability pressures begin to ease, we are seeing how flexible mortgage products are turning that pent-up demand into homeownership.
“But unless the barriers [that] are starting to impact older buyers, including lack of job security and concerns about stamp duty costs, are addressed, movement across the wider housing market is likely to remain constrained.”
