The current property market has shifted to a buyer’s market and there are greater opportunities available for prospective purchasers in Cumbria looking to take their first or next step on the ladder.
Recent statistics from Zoopla show that 40% of UK homes are now cheaper to buy than to rent, up from 25% a year ago.
What’s more, there are 6% more homes for sale now compared to this time last year, giving buyers more flexibility in their options for a new home.
Five-star housebuilder Barratt Homes is encouraging would-be buyers to consider the benefits of buying a brand-new property which, with modern designs and energy efficient features, could be much more attainable that many house hunters might think.
Alan Watt, Sales Director at Barratt Homes Manchester, said: “It’s definitely a buyer’s market now with greater availability, more competitive pricing and lower mortgage rates.
“The property market has had a strong start to 2026 and we are highlighting the benefits of brand-new homes for buyers who are placing versatile layouts, energy efficiency and sustainability at the top of their wish lists.”
A surge in properties for sale is largely due to the more costly rental market. The Office for National Statistics noted the average UK monthly private rents increased by 3.5% to £1,367 in the 12 months to January 2026.
With these costs escalating, it’s clear to see why more people are looking towards a mortgage.
A major contributory factor to the stronger buyer’s market is landlords exiting the market. According to Contractor UK, the Renters' Rights Act, tax changes and second-home owners fleeing increasing council tax rates have let to estate agents having the highest inventory in eight years.
Alan added: “For anyone looking to take their first or next step on the property ladder, we have a range of moving schemes available for first-time buyers and existing homeowners to make the transition to a brand-new home seamless and more affordable.”
These schemes with Barratt Homes include Part Exchange, Deposit Boost and the Key Worker Deposit Contribution.
Part Exchange enables Barratt Homes to buy a customer’s existing property at market value, taking care of the sale for existing homeowners looking to save money and hassle with their move.
The Deposit Boost scheme grants a 5% boost to a home buyer’s deposit, while through the Key Worker Deposit Contribution, the housebuilder could pay £1,000 for every £20,000 their customers pay towards their home, up to a value of £25,000.
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