The dream of owning a home is a very British phenomenon – and the last 40 years in particular have seen home ownership levels soar.
Approximately 33% of Brits now own their home outright, with a further 30% owning theirs with a mortgage. Around 37% of people rent their home. Of those, just over half rent privately, with the remainder renting through their local authority or other social housing provider.
It means that 63% of British adults are homeowners – but the profile of those homeowners is beginning to look different, as social norms change.
More people today are making the choice to remain single, and as a result, solo home ownership is becoming much more common. And amongst those choosing to buy a property alone, a trend is starting to emerge.
Research commissioned by Skipton Building Society has revealed that more women are now applying for mortgages on their own than men, with a growing number stating that they actively prefer the idea of solo-ownership over buying with a partner.
In 2024, Skipton Building Society processed 11.5% more solo mortgage applications from women than from men, and it wasn’t a one-off spike. So far in 2025, the pattern has continued, with women still ahead by almost 7%.
While the gap has narrowed slightly, the data still points to a shift in buying habits that’s more than just a passing quirk of the market.
Skipton’s survey of 1,000 women who do not currently own a home revealed that 37% intend to buy on their own, compared with 35% who plan to buy with a partner. It is a reversal of traditional expectations, where the majority aimed to purchase as part of a couple.
The reasons vary. 41% of respondents said they want full control over decisions like where to live and what type of property to buy – freedom that can be harder to achieve when two people’s needs and preferences are in the mix.
Others are factoring in flexibility: a home bought alone can be sold, rented out, or retained as an investment without the complications that sometimes accompany joint ownership.
Those women in Skipton’s study who are actively saving for a deposit have so far put aside an average of £9,420 – but they believe they will need just over £27,000 to secure their first property.
And by and large, they’re correct.
The average UK home is now priced at £271,000, according to the Office for National Statistics (ONS) – and so a 10% deposit comes in at £27,100.
That’s almost triple the amount the average saver currently has.
Nevertheless, a little good news for first time purchasers currently saving up deposits – female or otherwise – is that the average price of a first time purchase is actually lower than the average property value overall. The average price paid by first time buyers, according to Rightmove, is £229,648. It means a 10% deposit comes in at a little under £23,000.
The gap may still feel daunting, and it is one reason why some first-time buyers opt for 95% loan-to-value (LTV) mortgages, i.e. a mortgage that requires only a 5% deposit.
At today’s prices, that’s about £11,482 – far closer to the average savings pot.
A lower deposit means that the loan itself is larger, but it also tends to mean the interest rate is higher, and therefore the monthly payments will be higher too. Some good news this month, is that the average 5-year fixed rate has dipped below 5% for the first time since Liz Truss was Prime Minister. It is a shot in the arm for buyers and homeowners looking for a new mortgage or planning to remortgage.
There’s no denying that buying alone can magnify certain pressures. If a joint buyer loses their job, the other person’s income can keep the mortgage going; a solo buyer doesn’t have that buffer. Similarly, maintenance costs, repairs and upgrades all fall solely on the individual’s shoulders.
However, the rewards can be equally significant. Solo ownership can mean total control over the property’s use, décor, and future. It can also be a way of building wealth through equity, if the property market continues to grow.
Jen Lloyd, Head of Mortgage Products and Proposition for Skipton Building Society, recognises both sides of the coin, as reported by Anna Sagar on the Mortgage Solutions website: “While solo buyers are incredibly motivated, they face a disproportionate number of barriers. The challenges are significant and too often overlooked. The risks and pressures of buying alone can feel amplified, but that shouldn’t prevent them from pursuing this path.”
The rise of the solo buyer is more than just a social change; it brings practical implications for estate agents, property developers and lenders. Demand for smaller properties will increase, smart, well-designed properties which offer a balance between affordability and lifestyle. When living alone, one or two bedrooms is usually plenty – but these should not be compromise properties. For many, they are not stop-gaps – they are to be ‘home’.
Lenders are already adapting mortgage products to cater to solo incomes. Developers should take note of the changing attitudes of buyers, with consideration not just for layouts but also amenities that suit single-person households. After all, a homeowner may be single, but that does not mean they are not social.
For local markets, the numbers tell only part of the story. Affordability varies wildly from one area to the next. In some regions, the average price makes a 10% deposit realistic within a few years of dedicated saving. In others, even a 5% deposit can feel out of reach without family help or shared-ownership and help-to-buy schemes.
So, how is the market for solo buyers in Herne Hill?
As you can probably already guess, when it comes to property values and deposits required, the Herne Hill market is a quite different beast.
Let’s take a look at the numbers:
Not all solo purchasers are first time buyers. For some, it comes after a divorce or separation – or, in some cases, bereavement. Nevertheless, whether first time buyers or not, and for males and females alike, buying solo in South London can be a tough exercise. That being said, here at Petermans, we do see it often and we can definitely help solo buyers achieve it. For more information, see our services page for buyers here.
It’s too soon to say whether women will consistently outpace men as solo property purchasers, but the underlying drivers – life milestones coming later (or no longer at all), a desire for independence, flexible working – are not going away.
Also, as a society, our outlook on life is changing. ‘Birth, school, college to vocation and a good, solid marriage’ is no longer the ambition for younger generations, who value freedom, independence and life experience, and who no longer see it as their duty to marry, settle down and reproduce, as previous generations did.
Solo ownership is not a fallback option. For many it is becoming the preferred route to home ownership, offering stability, bricks-and-mortar investment and, of course, personal freedom to live the life of their choosing.
The rise of the solo buyer, no matter their gender, is something that the property market shouldn’t ignore. And if you are a Herne Hill property owner, you might consider how you can make your home appeal to this growing section of market, when you come to sell.
-------------------------------------------------------------------------------------------
6. Are flats or houses better for solo buyers?
It depends on budget, lifestyle, and priorities. Flats often have lower purchase prices and maintenance responsibilities, while houses offer more privacy and space.
7. Can people buying alone get a mortgage?
Yes, many lenders welcome single applicants. Working with a mortgage broker can help find the best deal for your circumstances. Larger deposits make achieving a mortgage easier and will improve the rates offered.
9. How can estate agents help solo buyers?
Petermans Estate Agents can offer tailored viewings, put them in touch with advisers to discuss best finance options clearly, and match them with properties that suit both their lifestyle and long-term plans.
We are required by law to conduct anti-money laundering checks on all those selling or buying a property. Whilst we retain responsibility for ensuring checks and any ongoing monitoring are carried out correctly, the initial checks are carried out on our behalf by Lifetime Legal who will contact you once you have agreed to instruct us in your sale or had an offer accepted on a property you wish to buy. The cost of these checks is £60 (incl. VAT), which covers the cost of obtaining relevant data and any manual checks and monitoring which might be required. This fee will need to be paid by you in advance of us publishing your property (in the case of a vendor) or issuing a memorandum of sale (in the case of a buyer), directly to Lifetime Legal, and is non-refundable. We will receive some of the fee taken by Lifetime Legal to compensate for its role in the provision of these checks.