Fixer-uppers are flying off the market — but are they really cheaper?

The upward trajectory of house prices in the UK is nudging many buyers towards renovation projects as a way of getting on the property ladder.

According to the UK House Price Index, the average property price in August 2025 was £272,995 — up from £220,163 just five years earlier.

For many, purchasing a fixer-upper presents a more affordable option, and demand in the renovation route has soared.

Recent analysis from The Property DriveBuy found an estimated 40,919 fixer-upper properties listed on England’s market, of which 20,522 are already Sold Subject to Contract, putting demand at 50.2% — considerably higher than the overall buyer demand of 37.1%.

Yet, fixer-upper properties make up just 5.4% of England’s market. The South East offers the largest selection of fixer-uppers, followed by London, the South West and the East of England.

These homes attract buyers willing to devote time and money to renovation, but embarking on such a project demands a different mindset and preparation than buying a move-in-ready home.

What to consider when buying a fixer-upper

While the initial purchase price may be enticingly low, the journey to a finished home is rarely straightforward.

Buyers must first conduct a thorough evaluation of the property’s condition — scrutinising for damp, roof integrity, and foundational issues that could complicate renovations or even affect mortgage eligibility — and focus on layout and structural features rather than cosmetic elements such as wallpaper or flooring, which are easier and cheaper to change.

Structural surveys are strongly advised to reveal hidden defects that may otherwise derail budgets and stretch timelines, as renovation costs vary tremendously, ranging from inexpensive decorating jobs to full-scale structural works.

The cost of buying a fixer-upper

Jess and Rick Sowerby, a couple who bought a fixer-upper after 30 viewings without finding their dream home,recently spoke to The Guardian about their experience.

They found that renovation projects were about £90,000 cheaper than homes that were ready to move into, and so bought a semi-detached fixer-upper in Rochdale.

Their biggest cost — about £35,000 — went towards an extension, while they also spent £6,000 on rewiring and £2,500 on new external doors and windows.

The decision to undertake much of the renovation work themselves shaved around £15,000 from their budget, although it took longer than initially anticipated (a common reality that hopeful renovators should brace for).

But such projects, especially those improving energy efficiency, can increase a property’s value and personal comfort.

Checkatrade notes that restoring original period features can enhance a home’s value by up to 30%, while extensions might add 5-8%, and loft conversions as much as 20%.

Solar panel installation, increasingly common for its energy and financial benefits, can uplift value by approximately 14%.

But renovation projects are fraught with uncertainties, and buyers should factor in an extra 15-20% for surprise costs.

Estate agent Chris Husson-Martin recounted dramatic tales of unforeseen expenses, including the discovery of wells beneath floorboards, exemplifying the unpredictability inherent in such endeavours.

Meanwhile, living through extensive home refurbishments often means grappling with dust, disruption, and noise.

Some owners opt to live off-site, which adds rental and storage costs as well as higher home insurance fees due to property vacancy.

But as house prices continue to soar and market competition stiffens, fixer-uppers present a compelling alternative for first-time buyers willing to embrace the challenges of renovation.

With smart budgeting, good advice, and access to grants, many are unlocking pathways to homeownership once thought closed.

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