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The difficulties facing first-time buyers are well established, but new research reveals that 'second steppers' – people buying their second home – are also facing significant challenges.
Research shows that second steppers face a big jump in the price of property. The typical first-time buyer's home costs £226,955, while the typical second home costs £345,857, according to Rightmove. The 52% increase is the largest percentage rise recorded by the property portal.
Home movers are also being hit by rising mortgage rates, meaning you may need to borrow more and pay more each month to move up the ladder.
Here, Which? explains why it's becoming harder to move up the property ladder and sets out the key costs you’ll need to prepare for.
The limited growth in flat prices compared with houses is a key factor behind the rising cost of moving up the property ladder.
Many first-time buyers start out in flats, so slower price growth can limit how much equity you build, making it harder to afford your next home.
The price gap between the average flat and the average house of any size is currently 26%, according to Rightmove. The average asking price of a flat is £301,338, compared with £379,526 for a house.
Over the past 10 years, flat prices have risen by just 8%, while house prices have increased by 34%. Analysis from early 2026 found that flat sellers are far more likely to make a loss than those selling other types of property.
In England and Wales, 19.9% of flat sellers sold at a loss, compared with 4.5% of house sellers, according to Hamptons.
Rightmove attributes the growing gap between the price of houses and flats to the ongoing impact of the Covid-19 pandemic, which created a renewed race for space. In February 2020, before the first lockdown, the gap between an average flat and an average house was £24,010. By February 2026 that had increased to £78,198.
Robert Gardner, Nationwide’s chief economist, has also highlighted rising maintenance costs, ground rents and service charges as factors weighing on demand for flats.
With the gap in price between the average first-time buyer and second stepper home growing, home movers will inevitably need to borrow more to make their next move.
At the same time, mortgage rates have been rising. While rates were falling at the start of 2026, the trend has reversed since mid-March, with lenders pushing up costs.
For example, Nationwide has recently increased fixed rates by 0.3 percentage points. Halifax and Lloyds Bank have pushed up fixed rates by 0.5 percentage points.
At the start of March, the best two-year fixed rates, the most common type of mortgage for home movers, ranged from 3.55% to 3.7%, depending on your loan-to-value. Now there are no rates below 4%, which means your monthly repayments could be noticeably higher when you move.
Nicholas Mendes of broker John Charcol advises borrowers not to sit back and hope. He says anyone buying should speak to a broker early, because lenders can move quickly and the best options do not always stay around for long.
The table spotlights the best mortgage deals currently for two-year fixed rates. To find the best rates for five-year fixed rates, tracker mortgages or three-year fixed rates, head to the best mortgage rates.
| 60% | NatWest | 73% | 4.47% | £1,495 | 6.74% |
| 60% fee free | Royal Bank of Scotland | 68% | 4.74% | £0 | 6.74% |
| 70% | NatWest | 73% | 4.64% | £1,495 | 6.74% |
| 70% fee free | Barclays | 75% | 4.81% | £0 | 5.74% |
| 80% | Barclays | 75% | 4.67% | £899 | 5.74% |
| 80% fee free | Barclays | 75% | 4.87% | £0 | 5.74% |
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Compare mortgagesIf you click on the link and complete a mortgage with L&C Mortgages, L&C is paid a commission by the lender and will share part of this fee with Which? Ltd helping fund our not-for-profit mission. We do not allow this relationship to affect our editorial independence. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
As with any property trend, the impact varies across Great Britain.
Buyers in London are hit hard when looking for more space. The typical price of a second stepper home is around 60% higher than a first-time buyer property, at almost £800,000.
But second steppers in the South East are hit harder in percentage terms, with properties costing 61% more than first-time buyer homes.
Wales is the most affordable area, with second stepper homes costing around 40% more than first-time buyer properties, according to Rightmove research.
The table shows the price difference between the average first-time buyer and second stepper home across Great Britain.
| East Midlands | £193,250 | £281,520 | 46% |
| East of England | £269,079 | £410,949 | 53% |
| London | £491,661 | £788,528 | 60% |
| North East | £133,713 | £200,787 | 50% |
| North West | £181,290 | £274,397 | 51% |
| Scotland | £146,567 | £230,056 | 57% |
| South East | £286,748 | £460,781 | 61% |
| South West | £247,531 | £378,014 | 53% |
| Great Britain | £226,955 | £345,857 | 52.4% |
| Wales | £183,640 | £257,520 | 40% |
| West Midlands | £193,401 | £290,575 | 50% |
| Yorkshire and The Humber | £182,029 | £251,885 | 38% |
Source: Rightmove
If you are thinking of moving, it's important to understand how much the process is likely to cost.
On top of higher property prices and mortgage costs, the cost of moving itself has also increased.
Data from price comparison site Reallymoving shows the average cost of moving home, including selling one property and buying another, is now almost £18,000. This is a rise of 27% compared with a year earlier.
Stamp duty remains the biggest expense, averaging £9,750. Estate agent fees follow at £4,615, while conveyancing costs average £2,182.
When choosing an estate agent, conveyancer, surveyor or removals company, be sure to compare prices from different providers to get the best deal.
Also check out our article on the most unexpected moving costs to ensure nothing is missed when budgeting for your next move.
Use the free tool from GetAgent to compare estate agents in your local area, based on past performance.
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