Foxtons research reveals most first-time buyers are unaware of new-build incentives — a gap brokers can close before Your First Home launches
Six in ten first-time buyers did not know new-build incentives existed when they bought their home. That is the finding from new research by Foxtons, based on a survey of 1,034 UK first-time buyers who had purchased in the past two years.
The data arrives just weeks after Prime Minister Andy Burnham announced the Your First Home scheme. The scheme would allow buyers to purchase a new-build with a 2.5% deposit and a 20% government-backed equity loan.
Only 31% of respondents said they had considered a new-build at any point during their home search. Just 6% actually went on to buy one.
The most common reason for ruling out a new-build was price: 26% said new-build properties were too expensive or carried too much of a premium. Supply was cited by 13%, while 12% felt they would get more space for their money by buying an existing property.
Yet the benefits of buying new do register. Almost four in ten (39%) identified having no immediate renovation or repair costs as a key advantage. A further 22% pointed to better energy efficiency, and 15% cited the appeal of an entirely unused property.
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What new-build incentives are first-time buyers missing?
Despite those recognised benefits, 62% of survey respondents said they were completely unaware that developers could offer financial or practical incentives to new-build buyers. Only 38% knew such support existed.
Among incentives that would have made a new-build more appealing, deposit contributions or deposit-matching came first at 19%. A purchase price reduction was cited by 17% and a stamp duty contribution by 14%.
Legal fee support (12%), cashback on completion (10%), a developer-backed reduced mortgage rate (9%), and contributions towards monthly payments (8%) rounded out the list.
Which features of buying a new-build home appeal to you most?
% of respondents
No immediate renovation or repair costs
Better energy efficiency
Everything brand new and unused
No onward property chain from the seller
A new-home warranty
Access to solar panels, battery storage or EV charging
Ability to personalise finishes before completion
Developer support for snagging and defects after completion
Source: Foxtons survey of 1,034 UK first-time buyers who purchased in the last two years, conducted by ProperPR via FindOutNow, September 2026
How brokers can help first-time buyers access new-build incentives
More than half (53%) said financial incentives and property extras would have made them more likely to consider a new-build.
Amit Masrani, new homes sales director at Foxtons, said the findings pointed to a dual challenge. “What’s particularly interesting from our research is that there is a considerable awareness gap around the support that already exists when purchasing a new home,” he said. “More than half told us that these incentives could have
made them more likely to consider a new-build, so the challenge isn’t just helping them overcome that initial affordability hurdle — it’s also educating them on the benefits of buying a new home.”
Broker conversations ahead of the Your First Home launch are an opportunity to do exactly that. First-time buyer applications in Q3 2026 fell 3.5% year-on-year, according to a separate study — but the underlying demand is there. Clients sitting on the sideline due to deposit size or uncertainty about upfront costs are the precise audience for this conversation.
How does Your First Home compare to existing new-build schemes?
Your First Home is restricted to new-build properties in England and will require buyers to use a participating developer. It does not replace existing options, and brokers should frame it alongside what is already on the market.
The Deposit Unlock scheme allows buyers to purchase a new-build with a 5% deposit.
First Homes, where available, offers discounts of at least 30% on new-build properties for eligible buyers.
These are products and schemes a broker can present today, before the Budget sets out the final details of Your First Home.
Masrani pointed to supply as the other half of the equation. “The challenge isn’t just helping them overcome that initial affordability hurdle — it’s also ensuring an adequate level of supply in the right areas,” he said.
Solo first-time buyers stand to gain significantly from the scheme. Analysis suggests Your First Home could more than double the number of new-builds within financial reach of the average single buyer. That is the client profile who most needs to understand new-build incentives — and brokers who can explain them are already ahead.
