Single homeownership report: The true cost of buying a property solo 2025

For many Brits, owning a home is a significant life milestone, and despite financial challenges, more people than ever are achieving this dream on their own. Solo homeownership is on the rise, with increasing numbers of buyers taking their first steps onto the property ladder independently.

While house prices currently average over £267,000, and the cost of living remains a factor, the resilience of solo buyers is reshaping the housing market.

From a conveyancing perspective, buying your first home solo brings unique considerations. Single purchasers often require tailored legal support to navigate the transaction with confidence - from understanding mortgage eligibility and property ownership structures to managing timelines and legal documentation solo.

In light of this, we have created the Single Homeownership Report, analysing data from over 19,000 solo property purchases from the past four years. The report examines average house prices, buyer demographics, property types, ownership structures, and purchase methods to reveal trends in solo homeownership, gender disparities, and affordability challenges for individual buyers.

The rise of solo-living

 The landscape of property ownership is evolving, with our data revealing a 68.5% increase in the number of solo homebuyers since 2021.

This growing trend reflects a powerful cultural shift as more Brits embrace financial independence and prioritise homeownership on their terms. More than six million Brits would now choose a mortgage over marriage, highlighting evolving priorities around personal achievement and life goals.

More individuals are also proving that homeownership is achievable without relying on two separate incomes. Rental costs, which currently average £1,369 across the UK, remain a hurdle, however determined buyers are finding ways to save and secure mortgages on their own terms.

As single-occupant households become more common, the market has an opportunity to develop property options that meet this growing demand.

Average sale prices for single homebuyers

Buying a home alone is a significant achievement, and the data here highlights encouraging trends in solo homeownership. Over the past year, more people have been purchasing property independently, with men making up a larger share of the market - 55% more than women.

Between 2021 and 2023, the gap between male and female solo buyers narrowed, however in the last year (2024) it widened to a 13% difference in property price.

The analysis also reveals evolving patterns in solo buying. Among the 19,000 property purchases analysed, single men were buying homes that were, on average, 13.4% more expensive than the properties purchased by single women. Solo male buyers were also 3.6 times more likely than solo female buyers to buy properties worth over £1 million.

Meanwhile, the proportion of women buying homes independently decreased slightly by 5.8% in 2023 before stabilising again in 2024. These shifts highlight the changing landscape of solo homeownership and the diverse ways buyers are entering the market.

The number of solo homeowners in the last four years

Despite varying financial circumstances, our data shows resilience in women's home-buying journey, with many purchasing homes above the national average house price of £267,000.

There's little difference in flat purchasing patterns across demographics, with approximately 9-10% of solo homeowners buying apartments, while the remaining 90+ per cent opted for larger properties. Location also plays a crucial role in these decisions, as some buyers prefer properties in areas with better public transport links and closer proximity to city centres, where flats are more prevalent than houses.

Navigating the market as a solo buyer

Navigating the property market on a single income can feel overwhelming, however with the right approach and a knowledgeable conveyancer, the journey becomes much smoother.

Prospective buyers can explore several strategies to make homeownership more accessible: opting for a more affordable property as a first step onto the ladder, researching areas with lower average house prices, or considering options like purchasing a fixer-upper property.

These strategies not only make purchasing a home more achievable, they also help build equity for future investments. For those embarking on the solo home-buying journey, the first and most crucial step is gaining a clear understanding of their financial situation.

1. Get advice: Gaining an idea of how much you can afford can help you decide how much you need to save for a deposit or if you’d prefer to wait slightly longer to secure a better income and benefit from improved affordability from mortgage lenders.

2. Create a realistic monthly budget: Calculate your current spending on household bills, groceries, transport, and socialising. Factor in potential mortgage payments and create a total budget that you can comfortably maintain without financial strain.

3. Check your credit report: Review your credit status and score before applying for a mortgage. Identify areas where you can improve your credit score. Starting early ensures smoother credit checks when you're ready to apply.

4. Extra fees: Budget for essential costs like conveyancing, solicitor fees, and potential repairs, which can total thousands. Don't try to cut corners on these services to save money, as this could lead to complications and delays in your property transaction.

5. Stamp duty fees: Recent changes to stamp duty mean buyers may need to pay stamp duty, particularly on properties over £300,000. With rates starting at 5% of the purchase price, this represents a significant additional cost to factor into your budget.

If you’re a first-time buyer looking for support, check out our First Time Buyers Guide to help you understand common questions you may have when buying your first home, and make sure you look into all the options available to you, including joint property ownership.

Alistair Singer, director at My Home Move Conveyancing, comments on the research:

"The rise in solo homeownership is an incredibly positive trend, demonstrating the determination and financial independence of buyers across the UK. Our latest report highlights a significant increase in individuals taking this step on their own, proving that homeownership is achievable - even amid economic challenges.

“The resilience of solo buyers is helping to reshape the property landscape, and as conveyancers, we are seeing first-hand how determined individuals are securing homes that suit their needs and long-term goals.

“With mortgage lenders adapting to the needs of solo buyers and property values stabilising, we expect this momentum to continue, offering even more opportunities for those looking to purchase independently.”

Methodology

My Home Move Conveyancing analysed 19,241 solo home transactions for the years 2021, 2022, 2023 and 2024, looking at:

Data correct as of March 2025.