Is now a good time to buy a new house? Expert insights and buyer tips

Why timing matters when buying a home

As a prospective buyer, you may be wondering: ‘Should I buy a house now? Is it the right time?’

The timing of a home purchase can affect affordability, availability and the range of options available to you. However, the right timing is not determined solely by market trends. Personal factors such as income stability, deposit savings and longer-term plans are also key considerations. By considering market conditions and your own financial position, you can make a more informed decision about whether to invest in a property.

Current market trends

The UK housing market continues to evolve, shaped by interest rates, buyer demand and sustainability priorities. Here are some key trends influencing affordability and choice:

• Mortgage rates. Interest rates fluctuate regularly. After sharp increases in 2023–2024, rates have stabilised but remain relatively high. Many lenders offer competitive fixed-rate deals, so speaking to a mortgage adviser can help you understand what's achievable within your budget.

• House prices. Growth has slowed, but demand for new-build homes remains strong in well-connected areas with good schools and amenities.

• Energy efficiency. Energy-efficient properties are increasingly sought after as buyers prioritise lower running costs and more sustainable lifestyles.

Schemes that make buying easier

Several schemes are designed to support buyers. Each scheme has specific eligibility criteria, and availability may vary by location.

Deposit Unlock

Deposit Unlock is a scheme designed to help both first-time buyers and existing homeowners purchase a new-build property with a smaller upfront deposit. Here’s how it works:

• Lower deposit requirement. You only need to pay a 5% deposit, making it easier to get on the property ladder or move to a new home.

• 95% mortgage. The remaining 95% of the property's price is covered by a 95% loan-to-value (LTV) mortgage. LTV is the ratio of the property’s value to the amount you borrow, typically expressed as a percentage.

• Exclusive to new-build homes. Deposit Unlock is available for selected Redrow properties priced up to £750,000.

To find out if this scheme is available at your preferred Redrow development, speak to one of our Sales Experts.

First Homes scheme

The First Homes scheme is a government-backed initiative for first-time buyers that offers discounts on the market value of selected new homes. Discounts range from 30% to 50% and may be subject to local authority eligibility requirements.

Visit GOV.UK to learn more. You can also speak with one of our Sales Experts to find out whether this scheme is available at your preferred development.

Help to Buy - Wales

The Help to Buy – Wales government initiative supports first-time buyers and existing homeowners in purchasing a new-build home. Key details include:

• Property price limit. This scheme is available only on new-build homes in Wales valued at up to £300,000.

• Shared equity loan. Buyers can get up to 20% of the property price as an equity loan.

• Deposit requirement. You’ll need to contribute a minimum 5% deposit.

• Repayment mortgage. The remaining amount is covered by a mortgage.

Visit GOV.WALES to learn more and determine your eligibility.

How Redrow supports first-time buyers

At Redrow, we're committed to helping first-time buyers navigate the homebuying process with confidence. Our support includes:

• My Redrow tools. Our online platform lets you track your homebuying journey, access key documents and stay updated on important milestones.

• Eco Electric homes. Homes in our G Series Eco Electric range include features such as enhanced insulation, air-source heat pumps and smart home technology, delivering lower running costs and supporting a more sustainable lifestyle.

• Expert support. Our Sales Experts are available to answer questions, explain scheme eligibility and guide you through every step of the process. From your first enquiry to completion, we're here to help you throughout your homebuying journey.

Ready to take the next step?

Ready to discover premium modern living? Visit our Customer Experience Suite to explore our range of brand-new homes. Our Sales Experts are available to guide you through available properties and optional upgrades.

FAQs

Is now a good time to buy a home?

There is no universal right time to buy a home. Individual circumstances, market conditions and personal goals all play a role.

What should I consider before buying a house?

When thinking about buying a home, it can be helpful to consider a range of factors. These include your budget, deposit savings, ongoing household costs and long-term plans.

How do rising interest rates affect buyers?

Higher interest rates can increase your monthly mortgage payments, but there are ways to reduce upfront costs. Government schemes such as Deposit Unlock can help buyers secure competitive deals with a lower deposit. Mortgage products also vary in their features. For example, a fixed-rate mortgage can provide stability by locking in your interest rate for a set period.