Is solo homeownership becoming the new norm?
Solo homeownership continues to be a strong trend among prospective buyers, with 50% purchasing alone on average over the last four years, according to data from Mortgage Advice Bureau.
The data reveals a steady demand for solo homebuyers, despite a minor decline of 4% since 2021. Solo purchases peaked at 53% in 2022 when interest rates were historically low but have since levelled out to 47% in 2024. Meanwhile, joint purchases rose by 4% over the same period, from 49% in 2021 to 53% in 2024.
A notable shift occurred in 2024, with solo buyer demand increasing by 11% throughout the year, from 40% in January to 51% in December. In contrast, joint homeownership declined from 60% to 49% over the same period.
Age and regional trends in solo homeownership
The data also highlights age-related trends in homeownership. Buyers aged 45 and over were the most likely to purchase alone, making up 64% of solo buyers. Meanwhile, the highest proportion of joint purchases (52%) was among the 26-35 age group.
London saw a significant peak in solo prospective buyers in 2022, with 70% looking to purchase alone. This trend was echoed in Scotland (60%) and Wales (65%) that same year, potentially driven by pandemic-related reassessments of living arrangements and historically low interest rates. However, solo buyer rates in these regions returned to more balanced levels in 2024, with 54% in London, 52% in Scotland, and 49% in Wales.
Across the UK, Scotland had the highest percentage of solo prospective buyers over the last four years at 57%, followed by Northern Ireland (56%), Wales (53%), and England (49%). Conversely, England had the highest rate of joint purchases at 51%, while Scotland had the lowest at 43%. In Northern Ireland, solo buyer demand surged to 60% in 2024, a 17% increase from four years ago.
Changing dynamics in home purchases
Joint homeownership is not exclusively driven by couples, as an increasing number of people are choosing alternative co-buying arrangements. Research found that 7% of prospective buyers planned to purchase a property with a friend in 2024, while 9% intended to buy with a family member and 18% with a partner.
“It’s empowering to see so many solo homebuyers entering the market,” said Rachel Geddes, strategic lender relationship director at Mortgage Advice Bureau. “While joint purchases allow customers to maximise their borrowing potential, there are many options out there that enable those buying solo to do the same.”
She added that factors such as improved affordability, stabilising mortgage rates, and slowed house price growth have contributed to sustained buyer confidence. “Whether you’re going it alone or pairing up with a partner, friend, or family member, speaking with a mortgage adviser in both instances is invaluable, helping you to decide what the most suitable options are for your needs,” she advised.
The data was collected from 10,463 users of the MyMAB and Home Buying apps between March 2021 and December 2024.
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