Major barriers to buying a residential property in the UK 2016-2023
According to a survey conducted among 2,000 adults in the United Kingdom (UK), in December 2023, the majority of respondents found the affordability of mortgage repayments the biggest barrier to a property purchase. Between 2021 and 2023, the share of respondents who chose mortgage affordability as the main challenge rose 39 percent to 68 percent. This was due to the dramatic increase in house prices since the beginning of the coronavirus pandemic and the mortgage rates hike in 2022.