New research by Yes Homebuyers has found that a third of homebuyers have been helped onto the property ladder as a result of lockdown.
Yes Homebuyers conducted a survey of 1,485 recent UK homebuyers in the past 12 months.
The restrictions over the past year have helped 27% of homebuyers save to get a home, with 46% of those surveyed suggesting that the drastically reduced spend across their social life helped them to get a foot on the ladder.
Guide to BTL remortgaging in 2021: The impact of coronavirus
A further 33% saw working from home and a lack of commuting help to save.
A reduction in family costs has helped 10%, while 6% received an inheritance due to bereavement and 5% saved on rent due to moving back home with their parents.
Matthew Cooper, founder and managing director of Yes Homebuyers, said: “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.”
