Home own­ers ‘stay put for 23 years on av­er­age’

Western Mail - - PERSONAL FINANCE -

THE av­er­age home owner moves prop­er­ties every 23 years, anal­y­sis has found.

Peo­ple in Wales re­main in their home the long­est, tak­ing an av­er­age of 26.8 years to move. Scot­land is home to the most fre­quent movers in Bri­tain, the re­search sug­gests, with the av­er­age home owner stay­ing put for around 19 and a half years.

Prop­erty web­site Zoopla made the find­ings af­ter work­ing with an­a­lysts Home­track. The re­search looked at sales fig­ures across Bri­tain and com­pared them with to­tal hous­ing stock lev­els to work out how of­ten peo­ple typ­i­cally move, us­ing Land Reg­istry and Reg­is­ters of Scot­land data.

Res­i­dents in Mid­loth­ian, Scot­land, are par­tic­u­larly likely to move fre­quently – af­ter just un­der 15 years on av­er­age, the re­search sug­gests. At the other end of the spec­trum, res­i­dents of Powys in mid Wales only move around once every 33 years. Re­searchers said the fre­quency of home own­ers mov­ing has fluc­tu­ated in re­cent years.

In 2009, af­ter the fi­nan­cial cri­sis, peo­ple tended to move less of­ten, around once every 26 years.

The re­search was re­leased to co­in­cide with the launch of a new “move plan­ner” tool by Zoopla.

A sep­a­rate re­port, from Lloyds Bank, has found that the av­er­age cost of mov­ing home, in­clud­ing stamp duty, re­moval costs and var­i­ous fees, is now more than £11,500 – ris­ing to £32,000 in Lon­don – which could be an­other ob­sta­cle to some peo­ple mov­ing home.

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